Pibit AI, an insurtech company, has secured $7m in a series A funding round to expedite the development of its centralised underwriting risk environment (CURE) and support wider use of the AI platform.  

Stellaris Venture Partners led the round, with Y Combinator and Arali Ventures also participating. 

Pibit AI, which has more than 125 employees, plans to invest in further development of its AI systems and integration capabilities. 

Its road map outlines expansion of additional application programming interface features, risk models and more data collaborations to adapt the CURE platform for emerging risks and new business areas.  

The CURE platform is designed to coordinate all stages of the underwriting process in a single system, handling submissions, research, document processing, risk evaluation and workflow management. 

It includes modules such as ClearCURE for triage, ResearchCURE for real-time data updates, DocumentCURE for document processing, RiskCURE for portfolio analysis and WorkflowCURE for task management. 

Automation is used alongside human oversight in Pibit AI’s system to support verification and contextual assessment at each step.  

Pibit AI founder and CEO Akash Agarwal said: “Pibit.AI was built around one idea: that AI should empower underwriters, not replace them. Too many systems prioritise speed over trust.  

“We are building something that is transparent, explainable and decision-ready – a system that gives underwriters confidence in every output while helping them move faster than ever before.” 

Clients of Pibit AI include HDVI, RMS Insurance Brokerage, Shepherd Insurance, Kinetic and Method Insurance Company.  

The company reported that customers have achieved up to 85% more speed in underwriting cycles, 32% growth in gross written premium per underwriter and an improvement of as much as 700 basis points in loss ratios.