Last Updated: March 6, 2024
By Vishal Sankhla, Anshu Jain
For centuries, insurance has been the backbone of commerce, providing businesses with the confidence to take risks and grow. Yet despite its foundational role in the economy, the insurance industry itself has been paralyzed by inefficiency, trapped in legacy systems and burdened by manual workflows.
This is about to change. Not incrementally or gradually — quickly and exponentially.
We are excited to kick off a new era in insurance, one where AI-powered agents work alongside brokers, underwriters and carriers, eliminating bottlenecks, automating decisions and delivering instant, intelligent insights.
The insurance professionals of tomorrow won't be buried in spreadsheets and PDFs. Instead they will be augmented by AI agents that anticipate needs, automate workflows and unlock hidden revenue opportunities, freeing them up for the most critical aspect of their work: building relationships with customers by providing strategic advice and personalized service.
This is the world Outmarket AI is building.
We don't believe in just digitizing insurance. That's what the last generation of insurtechs tried to do.
We believe in intelligent, agentic automation — where AI acts as a true partner for brokers. Instead of forcing professionals to sift through mountains of data, manually compare quotes and spend hours searching for the right carrier appetite, Outmarket AI does it for them. Instantly.
Imagine an AI-powered assistant that:
This is not an abstract vision of the future. This is Outmarket AI.
Commercial insurance is an $800 billion industry, yet outdated workflows cost brokers and carriers billions in lost productivity each year. Working together at Meta and then Ethos, the leading provider of tech for the life insurance sector, gave us firsthand experience with the industry's significant challenges related to data fragmentation, inefficient processes and broker alignment.
We began to envision a connectivity layer that unites retail agencies, wholesalers and carriers. Then, merging our combined backgrounds in product development and research, we built one and assembled an all-star team of AI researchers and insurance experts that includes alumni from IBM Watson, Meta, Uber and Adobe.
Today we are excited to launch Outmarket AI with $4.7M in seed financing led by Fika Ventures and additional support from TTV and Dash Fund. We are proud to have a stellar advisory board composed of industry leaders from the largest brokers, MGAs and wholesalers, who bring deep expertise and strategic guidance as we drive transformative change in commercial insurance.
Outmarket is an advanced AI-powered platform designed to revolutionize broker efficiency by automating critical workflows and delivering actionable insights. From Submissions Intake and Quote Comparison to Policy Reviews and Proposal Generation, Outmarket streamlines operations, aligns broker activities with carrier appetites, and unlocks revenue opportunities. Our tools enable faster, smarter decision-making, driving growth and enhancing the entire insurance value chain.
Outmarket AI ingests structured and unstructured data from emails, AMSs, PDFs, carrier portals and underwriting documents. Instead of fragmented, siloed insights, brokers and carriers get a unified intelligence layer that connects all their data in one place.
Instead of just surfacing insights, Outmarket AI acts on them. Our AI agents automate underwriting decisions, quote comparisons, policy reviews and client recommendations — removing friction and unlocking speed.
Today's software forces brokers to manually search, analyze and act on data. Outmarket flips this paradigm by enabling AI-powered workflows that:
Insurance has always been about risk intelligence. But until now, that intelligence has been trapped in manual processes, human memory and static reports. Outmarket AI transforms insurance into a dynamic, continuously learning system where AI, brokers and carriers work together to make smarter, faster and more profitable decisions.
Early adopters of Outmarket AI — including top 100 commercial brokers, MGAs and wholesalers — already are seeing transformative results. Customers report slashing quote comparison and policy review times by up to 80%, turning processes that once took days into those completed in minutes.
Brokers don't need another dashboard, reporting tool or bolt-on system.
They need a true intelligence layer. One that doesn't just surface insights, but acts on them. One that doesn't just automate individual tasks, but orchestrates entire workflows. One that turns static data into dynamic, agentic decision-making.
We're not here to make small improvements. We are here to fundamentally redefine how insurance operates.
If you're ready to be part of the AI-driven future of insurance, we'd love to talk.
Join us at Outmarket.ai