As brokers contend with growing volumes of intricate data and increasing demands for speed and service quality, Price Forbes is deploying mea’s AI technology to streamline processes and drive greater efficiency across its core operations.

In 2025, mea introduced its “mea Operations” suite, including Broking Operations, aimed at automating enquiry intake, exposure modelling, market submissions and digital placement.

Through this collaboration, Price Forbes will digitise and automate data capture and document processing across submissions, enquiries and related workflows—enabling broking teams to respond more swiftly while improving consistency, accuracy and overall service standards.

“Brokers succeed by delivering high-quality client service while operating efficiently at scale,” commented Martin Henley, CEO of mea Platform. “Price Forbes’ selection of mea reflects a practical approach to AI—one focused on improving day-to-day operations, supporting frontline teams, and delivering measurable outcomes without disrupting existing systems.”

“We are continually focused on improving how we serve clients while strengthening operational efficiency across the business,” added Sami Sulaiman, Chief Operating Officer of Price Forbes. “mea’s AI products align with our objective to streamline time-consuming processes and enable our teams to focus on delivering value for clients.”

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Together, Instnt and MKIII have introduced a “Double-Indemnity” structure that integrates fraud loss insurance directly into a credit model warranty, creating what they describe as the fintech sector’s first fully indemnified lending solution. The structure is designed to remove the longstanding tension between portfolio growth and risk management for lenders.

The collaboration establishes what the companies call a “Zero Liability” growth engine, enabling credit unions and other lenders to transfer their two most significant risks, credit default and identity fraud, away from their balance sheets.

Within the Double-Indemnity framework, MKIII provides insurance coverage for credit risk tied to a borrower’s capacity to repay, while Instnt covers identity fraud loss risk associated with a borrower’s intent to deceive. This includes protection against synthetic fraud, third-party fraud, and first-party fraud.

By embedding insurance protection against both economic defaults and fraud losses into each loan, the solution allows lenders to strengthen Net Interest Margin and Return on Equity. Financial institutions can also redeploy traditional bad debt reserves as working capital to support additional lending and revenue-generating activities.

The partnership relies on advanced artificial intelligence to streamline approvals, particularly for thin-file and digital-first applicants who are frequently declined by conventional underwriting systems. Instnt’s identity fraud insurance policies are insured by AM Best A-rated Accredited and reinsured by Munich Re and Swiss Re. MKIII’s Loan Decision Model is supported by Munich Re’s aiSure™ performance guarantee, while fraud loss claims are processed digitally by Sedgwick with a 30-day denial-free guarantee.

“Lenders have historically been forced to choose between growth and safety. We are eliminating that trade-off enabling safe, scalable growth,” commented Sunil Madhu, Founder and CEO of Instnt. “We are delivering a ‘Double Indemnity’ model where the lender captures the yield while we absorb the volatility. This is the future of scalable underwriting”.

The companies say the integrated offering will be especially relevant for mid-market banks and credit unions seeking to compete more effectively with large fintech lenders. By removing exposure to identity fraud losses, institutions can broaden their “buy box” to reach younger and underserved borrowers while pursuing higher loan volume targets in 2026 without elevating their overall risk profile.

“Our goal at MKIII is to help lending institutions say ‘yes’ when their competitors say ‘no’,” added Bryan Adler, Co-Founder and CEO of MKIII. “Integrating Instnt’s fraud indemnity into our program is a pure-play growth engine for the banking sector since Instnt covers the only gap in our coverage”.

“Our goal at MKIII is to help lending institutions say yes to existing customers and compete with the big fintechs without taking on fintech-level risk. We cover the credit risk, Instnt covers the fraud risk, the lender keeps the yield – that growth vs. safety trade-off disappears. This means more approvals for members who deserve access to credit, without adding risk to the balance sheet.”

“Munich Re is providing the institutional-grade confidence necessary for lenders to scale their portfolios while maintaining the highest standards of financial resilience,” said Ted Pine, AI Risk Underwriting, Munich Re. “The integration of Instnt’s fraud loss insurance and MKIII’s loan decisioning represents a significant step forward in making AI-driven lending truly bankable.”

The combined Instnt and MKIII solution is now available to qualified credit unions, banks, and fintech lenders. The indemnity layer is embedded within a package that includes MKIII’s APIs and Instnt’s AI agent, delivered through a low-code, no-code integration model designed to support rapid deployment.

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The company describes the product as a fully operational brokerage system rather than a conversational assistant. Instead of simply providing chat responses or directing customers to insurer websites, the platform is designed to carry out the brokerage process on a customer’s behalf.

Using advanced voice AI models, it contacts insurance providers directly, navigates automated phone systems, waits on hold where necessary, gathers and compares quotes, and returns a tailored recommendation to the customer without requiring manual broker intervention.

Jointly AI states that brokers adopting the platform can delegate a process that often takes several hours or multiple days and have it completed in approximately 35 to 45 minutes.

The system operates through a coordinated workflow made up of five purpose-built AI agents, each assigned to a distinct stage of the brokerage journey. These agents are connected by an enterprise-grade orchestration layer intended to support reliable operation at scale within regulated financial environments.

The process begins with a brief phone call between the customer and the platform’s intake agent. During this conversation, the system collects the required information without the need for forms or transfers between departments.

The intake agent is available continuously and uses a voice AI model designed to deliver a natural conversational experience. From that interaction, a research agent independently scans the market, checks insurer credentials against the Financial Conduct Authority register, and produces a ranked shortlist of suitable providers.

A quoting agent then initiates direct phone calls to insurers. It navigates IVR systems, waits for human representatives when needed, references alternative market quotes, and captures pricing information. Multiple calls can be conducted simultaneously. The resulting quotes are passed to an analysis agent powered by Jointly Insurance Instruct v1, the company’s proprietary insurance-focused large language model, which standardises the information and evaluates each option according to the customer’s stated priorities.

Once the analysis is complete, a delivery agent communicates the results to the customer by phone or email. The response includes a primary recommendation, an alternative option, and a budget-oriented choice, each explained in clear and straightforward language.

Jointly AI indicates that the orchestration layer has been built to meet the expectations of regulated financial services. Each extracted data point is assigned a confidence score, and when certainty falls below a defined threshold, the system seeks clarification rather than making assumptions.

If a call disconnects, it redials. If a provider is temporarily unavailable, it retries later, including outside normal business hours where required. All agent activities, state transitions, and system actions are logged and visible in real time, providing brokers with oversight and audit capabilities.

The platform is offered on a subscription basis and is currently available in early access to selected partner insurance brokers. Jointly AI positions the product as a tool to reduce administrative workloads within brokerage firms, where a significant proportion of time is spent on manual tasks, while enabling customers to receive personalised insurance recommendations more quickly than through traditional processes.

“We know AI can handle complex tasks, but is it built specifically enough to handle yours? Insurance is complex, regulated, and deeply consequential. It needs AI designed for it from the ground up,” added Alberto Romero, CEO at Jointly.

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Founded in 2021, mea focuses on applying artificial intelligence to the insurance industry, offering products designed to improve combined ratios and strengthen margins.

The company, which has been intentionally self-funded until now, is entering its fourth consecutive year of profitable growth. The investment from SEP will support accelerated product development and customer engagement as mea continues its global expansion across re/insurance operations, first announced last October.

mea provides AI solutions tailored for the insurance sector, automating end-to-end operations for carriers, brokers, and MGAs. Its products are pre-trained for the language and requirements of insurance, enabling fast, non-disruptive deployment.

The platform is live with clients in 21 countries and manages over $400 billion in gross written premium. Notable customers and partners include AXIS, CNA, The Hartford, Markel, SCOR, Ardonagh, Lloyd’s of London, PPL, Accenture, DXC, ServiceNow, Velonetic, and Verisk.

Despite significant technology investment across the insurance industry, many processes remain manual and resource-intensive. Operating costs account for up to 14 points of the combined ratio for carriers and nearly half of total broker expenses, totalling roughly $2 trillion annually. mea’s AI products automate these processes, achieving up to 60% reductions in operating costs while driving gains in gross written premium and margins.

Founded by experienced insurance professionals, mea combines sector expertise with scalable technology to deliver measurable results. Its product suite has expanded from submission ingestion to comprehensive operational automation, providing rapid deployment and return on investment for clients.

Martin Henley, Founder and CEO of mea, commented: “SEP brings deep experience in scaling enterprise technology businesses, and we are excited to partner with them as we grow mea with the same discipline and focus that has brought us to this point. We saw significant inbound interest from potential investors and chose SEP for their long-term perspective, collaborative style, and the strategic support they will provide as we enter our next phase of growth.

“Our opportunity to improve client combined ratios and margin is built on years of developing and deploying insurance-specific AI at global scale. As the industry moves from AI experimentation to production, customers increasingly recognise the value of domain-specific technology that delivers results immediately.”

Angus Conroy, Managing Partner of SEP, added: “mea is an excellent fit with our strategy of backing IP-rich technology companies that solve complex problems for the world’s largest organisations. mea has built a highly differentiated, production-grade platform with clear return on investment for global insurance groups.

“Strong customer adoption, growth, and capital efficiency reflect both the quality of the technology and the team’s deep insurance expertise. In a dynamic market, mea stands out for what is live, proven, and scaled today. We are excited to partner with Martin and the mea team as they continue to scale the business.”

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Covering the entire underwriting lifecycle, from submission through binding and beyond, Inspire enables underwriters to make confident decisions and supports business growth without requiring proportional increases in staff.

Designed specifically for the complexities of specialty insurance, Inspire combines line-specific underwriting applications with a line-agnostic policy management foundation.

This modular approach allows firms to deploy functionality where it is needed while maintaining consistency across the enterprise. The platform mirrors how underwriters work across different lines of business, accommodating the nuance and variation inherent in specialty risk.

As specialty insurers expand, maintaining operational clarity alongside increasing volumes of underwriting has become increasingly critical. Inspire addresses this challenge by embedding AI and automation throughout the underwriting workflow. From submission intake to quoting and binding, the platform reduces manual effort, streamlines operations, and allows underwriters to make timely, data-driven decisions that remain aligned with organisational appetite.

By providing a single, modular platform, Concirrus limits the need for complex integration projects or lengthy transformation programmes, helping organisations modernise their underwriting processes while providing a foundation that can adapt as business needs evolve.

Inspire is built around strategic advantages that give insurers, brokers, and MGAs a competitive edge. It allows underwriters to move from submission to a confident, data-backed decision in minutes rather than days, capturing opportunities without compromising discipline. It provides real-time visibility into exposure and accumulation, supporting growth while ensuring risks remain within appetite.

AI functions as a force multiplier, allowing expert underwriters to focus on complex, high-value risks while the platform manages high-volume processing. The platform’s architecture is designed for the future, enabling firms to scale securely without vendor lock-in or repeated re-platforming.

Delivered as a suite of interoperable modules, Concirrus Inspire can be adopted incrementally within a unified underwriting framework. Modules cover submission intake, triage, quoting, exposure management, data extraction, policy administration, rating, insights, portfolio oversight, adaptive workflows, and sanctions screening. Through partnerships, including with Diesta, Inspire also extends beyond underwriting to provide automated premium payment and reconciliation, offering seamless continuity from risk intake to cash receipt.

Andrew Yeoman, Chief Executive Officer of Concirrus, commented: “The specialty insurance market is evolving quickly, and underwriting teams need technology that supports both speed and discipline. Inspire is not an incremental upgrade. It is an AI-native underwriting platform designed to remove friction, support better decisions, and give insurers the confidence to scale.”

Concirrus continues to expand its AI-first platform, supported by leadership growth and strong momentum across the UK and US markets. A notable achievement is becoming the first global insurtech to attain the combined triple certification of ISO/IEC 42001 for AI governance, ISO/IEC 27001 for information security, and SOC 2 compliance, ensuring Inspire delivers speed and accuracy while meeting the highest standards for security, data protection, and ethical AI use.

As insurers adopt new technologies, Concirrus Inspire provides a clear, AI-native foundation that allows firms to modernise underwriting, operate confidently, and scale without losing control.

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The reinsurance broker’s latest global InsurTech report highlights a resurgence of sector funding in the final quarter of last year, driven by P&C insurtech investments rebounding, over 100 InsurTechs fundraising for the first time since Q1 2024, and the return of so-called mega rounds – which is when more than $100 million is raised in a single round.

Within P&C InsurTech funding, Gallagher Re highlights a 90.5% quarter-on-quarter increase to $1.31 billion, driven by mega rounds from the likes of CyberCube, ICEYE, Creditas, Federato, and Nirvana, who together secured $662.81 million in funding during the quarter.

During Q4 2025, overall deal count spiked 34.2% quarter-on-quarter to 102, while average deal size increased 20% to $18.84 million.

Early-stage funding also reached an 11-quarter high in Q4 2025, rising from $277.65 million in Q3 to $403.09 million, with contributions from P&C and L&H.

The strong, overall funding increase for the full year 2025 was mostly driven by a near doubling in the number of mega-round deals from six to 11. Gallagher Re reports that mega-round funding in dollar terms also increased by 53.2% year-on-year to $1.43 billion.

Interestingly, during 2025, Gallagher Re finds that insurers and reinsurers made more investments into InsurTechs than in any other year on record, with 162 deals announced.

“This suggests that (re)insurers are not only more comfortable investing, but also that they see InsurTechs as a route forward in their own strategies,” says the firm.

As artificial intelligence continues to advance and influence industries of all shapes and sizes, two-thirds of 2025’s InsurTech funding went to firms focused on AI, accounting for almost $3.3 billion across almost 230 deals.

In fact, AI-centered InsurTech firms raised $1.31 billion across 66 deals in Q4’25, with an average deal size of $22.14 million, slightly above the overall Q4’25 average. Throughout the whole of 2025, AI-centered InsurTechs raised $3.35 billion across 227 deals, 66% of funding and 62% of deals, respectively.

Andrew Johnston, Global Head of InsurTech at Gallagher Re, said: “AI is squarely the focus of most of the contemporary InsurTech world. Over time, we see AI becoming so integrated into InsurTech that the two may well become synonymous.

“The long term question that the industry must consider now is the ‘so what’ problem: as the implementation of AI starts to deliver efficiency gains, it is imperative that the industry works out how to best use all of this newly freed up time and/or resource.”

Freddie Scarratt, Global Deputy Head of InsurTech at Gallagher Re, added: “Historically, the sector has taken a prudent approach to innovation, relying on established actuarial tables and thorough underwriting processes to ensure stability.

“However, recent developments suggest that the sector is shifting gears, moving from gradual evolution to an accelerated adoption of advanced technologies.”

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The investment forms part of Wrisk’s recently announced Series B funding round, led by Alma Mundi Ventures alongside Opera Tech Ventures.

With this investment, Allianz joins a group of shareholders that have supported Wrisk in previous funding rounds. The addition of one of the world’s largest insurers further reinforces Wrisk’s standing as a trusted partner for automotive original equipment manufacturers (OEMs).

The move reflects increasing demand for tighter collaboration between insurers and embedded insurance platforms as OEMs pursue more integrated, insight-led insurance offerings.

Allianz’s participation carries particular weight given its long-standing relationship with Wrisk, having served as the company’s primary underwriter for nearly a decade. The investment comes at a time when many of Wrisk’s OEM clients are seeking deeper, more focused partnerships with a smaller group of insurer partners. By combining close OEM relationships with advanced platform and data capabilities, Wrisk enables insurers to build advantages in areas including data enrichment, risk assessment, and pricing strategy.

The Wrisk platform aggregates real-time insights across insurance, vehicle, financial, and behavioural data to improve decision-making in pricing, claims handling, and customer engagement. Central to this capability is Wrisk’s proprietary embedded data framework, purpose-built for automotive OEMs to align inputs from connected vehicles, telematics, transaction data, and customer interactions. This structure supports scalable intelligence through machine learning models that adapt alongside vehicle innovation, customer trends, and market shifts.

Proceeds from the Series B round, including Allianz’s investment, will be used to support Wrisk’s international growth plans and continued development of its data science and analytics capabilities, as the platform expands and partnerships across the automotive and insurance sectors deepen.

Nimeshh Patel, CEO of Wrisk, commented: “Allianz’s investment is a strong endorsement of Wrisk’s strategy and our role in helping insurers and OEMs work more closely together. As OEMs increasingly look for fewer, more strategic insurance partners, our ability to combine deep OEM relationships with sophisticated data and technology becomes ever more important. We are delighted to welcome Allianz as a shareholder and look forward to deepening our long-term partnership.”

Ulf Lange, Managing Director, Personal Lines, at Allianz UK, added: “Wrisk has built a compelling platform at the intersection of insurance, data and the automotive sector. Its close relationships with OEMs and focus on data-driven insurance solutions align closely with Allianz’s strategic priorities, and we are pleased to support Wrisk as it continues to scale its business and capabilities.”

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The collaboration will modernise Intermont’s pricing and underwriting operations while establishing a solid foundation for Optalitix’s expansion into the Dutch market.

As part of the initiative, Intermont will implement Optalitix Quote and Optalitix Models to replace its Excel-based pricing and underwriting processes with a fully cloud-based, end-to-end system. Work is set to begin in Q1 2026, with full implementation expected by Q2/Q3 2026.

The new platform will streamline previously manual and fragmented workflows, offering centralised model management, automated processes, quicker quote delivery, reduced errors, and real-time portfolio data capture to support more informed risk selection and decision-making.

Dino Mantovani, Enterprise Sales Executive at Optalitix, commented: “This partnership with Intermont is a landmark moment for Optalitix in the Netherlands. Intermont will benefit from increased agility and flexibility without the need for costly, bespoke system builds, while gaining the scalability required to expand across new products, regions, and growing business volumes. The partnership will also accelerate speed-to-market and significantly improve operational efficiency, strengthening Intermont’s competitive position.”

Jeroen Baart, Managing Director at Intermont, said: “By working with Optalitix we are improving our commercial underwriting and strengthening how we present our portfolio to capacity providers. The platform helps us demonstrate control, transparency, and granular insight in our book of business.”

Pascal Durant, Head of Business Development & Underwriting Director Casualty & Marine at Intermont, added: “The partnership with Optalitix enables us to take the next step towards becoming a data-driven MGA. It allows us to analyse and process data more efficiently to develop stronger underwriting models and propositions.”

Ognjen Jovanovic, Operations Director at Intermont, noted: “Optalitix understands how an MGA works in practice. This partnership is about giving our brokers a smoother experience, our underwriters better tools, and our carriers a deeper, data-driven view of the portfolio.”

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The raise follows the company’s recent regulatory approval to launch what it describes as the first AI-native, full-stack insurance carrier designed specifically for startups.

Founded by Emily Yuan and Nico Laqua, Corgi plans to use the capital from its seed and Series A rounds to grow its startup-focused insurance offerings. Planned investments include broader coverage options, expanded distribution, and continued development of the AI systems that support underwriting, claims processing, and policy administration. As a full-stack carrier, the company builds and operates its insurance products internally, enabling customization as startup customers scale.

Modern infrastructure underpins Corgi’s approach, distinguishing it from insurers that rely on broker-heavy models, manual processes, and annual policy cycles. The company aims to offer faster quoting, adaptable coverage, and pricing intended to stay competitive for fast-growing businesses.

“Startups move fast, and so should their insurance,” said Laqua. “Founders shouldn’t have to choose between speed, coverage quality and price. We built Corgi to deliver all three in one place, so startups can get covered quickly and focus on building. This capital helps us expand coverage and keep improving the product.”

The startup insurance portfolio targets venture-backed and high-growth companies and includes directors and officers (D&O) liability, errors and omissions (E&O) liability, cyber insurance, commercial general liability (CGL), hired and non-owned auto (HNOA), fiduciary liability, AI liability, and additional coverages.

“True innovation in insurance requires a special combination of actuarial science, AI-driven systems, and a fundamental rethinking of policy management. Corgi brings rare tenacity and technical focus to one of the hardest challenges in financial services by launching a new carrier to transform insurance, starting with technology companies,” added Kanyi Maqubela, General Partner at Kindred Ventures.

Since receiving full regulatory approval in July 2025, Corgi has reported strong revenue growth across its products, with annual recurring revenue exceeding $40 million. The company attributes this progress to rising interest in insurance solutions that emphasize speed, flexibility, and modern operational models across a range of industries.

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Founded in 2020, Maximum Information is committed to increasing global resilience to natural disasters through advanced catastrophe modelling analytics. Its platform provides re/insurers, financial institutions and other risk-exposed sectors with transparent, vendor-agnostic tools for understanding, quantifying and managing catastrophe and climate-related risks.

In 2024, less than 40% of the $417 billion in economic losses from natural catastrophes were insured. Despite decades of progress in catastrophe modelling, the global protection gap still stands at $263bn, leaving governments, businesses and communities exposed.

Risk carriers face rapidly evolving peril patterns, growing exposure complexity and a diversifying landscape of modelling providers. While these developments create new opportunities, many risk managers still lack the orchestration tools needed to compare, adjust, stress-test or unify outputs across providers. Without a vendor-agnostic translation layer, adoption slows, uncertainty increases and model users struggle to build resilience.

Maximum Information is developing the first vendor-agnostic middleware for catastrophe risk analytics, enabling risk carriers, brokers and financial institutions to make mission-critical decisions with greater confidence. Working with its customers, the company is targeting a generational opportunity to build resilience by enabling user-led catastrophe risk transfer decisions.

Its flagship platform, MagniPhi, integrates seamlessly into cat-modelling workflows and enables risk carriers to look under the hood of their models with speed and clarity, supporting faster, sharper and more reliable analysis.

“As the modelling landscape expands the industry needs reliable infrastructure, not more noise,” said Tom Philp, Chief Executive Officer of Maximum Information. “Our goal is to provide the analytical foundation that allows organisations to lean into catastrophe risk decision-making with consistency and confidence.”

Dom Nolan, Investment Manager at Insurtech Gateway, stated, “Maximum Information solves a critical problem at the centre of emerging cat modelling trends. (Re)insurers and brokers are facing increasing pressure to better understand risk, and vendors are continuously updating / building new models across global peril-regions. Insurtech Gateway is delighted to partner with Tom and his exceptionally equipped team in building a vendor-agnostic platform of B2B SaaS tools that help risk carriers understand, quantify, and manage catastrophe and climate-related risks.”

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