Qumis Raises $2.2M in Pre-Seed Funding to Revolutionize Insurance Knowledge Work with AI
Qumis bridges the gap between legal precision and insurance expertise with its lawyer-built AI platform.
Company Name: Qumis
Location: Chicago, IL
Industry: Insurance
Funding Details:
Amount: $2.2M (Pre-Seed)
Investors:
- Lead Investor: Armory Square Ventures
- Participants: MTech Capital, Grand Ventures, Alumni Ventures, BrokerTech Ventures
- Strategic Investors:
- Sean Harper, Co-Founder & CEO of Kin Insurance
- Tom Vander Schaaf, Former General Partner at Edison Partners
Purpose of Investment:
The funding will be used to:
- Scale Qumis’s AI capabilities.
- Accelerate product development.
- Expand its customer base across brokers, carriers, and law firms.
Leadership:
CEO: Dan Schuleman
CTO: Shiv Sinha
Product:
Qumis offers an AI-powered platform designed to enhance insurance knowledge work by enabling precision and efficiency in understanding policies and decision-making. Key features include:
- Real-Time Policy Insights:
- Provides actionable insights to brokers, carriers, and agents to improve claims management and underwriting.
- Fast and Cost-Effective Coverage Analysis:
- Uses AI to scan and analyze complex insurance policies and claims files.
- Drafts coverage letters in minutes instead of weeks, offering law-firm-grade analysis at a fraction of the time and cost.
- Instant Policy Comparison:
- Compares insurance policies, quotes, and binders to identify gaps and make coverage recommendations.
About the Company:
Qumis, founded by industry veterans, bridges the gap between legal precision and insurance expertise with its lawyer-built AI platform. It is already transforming brokering, claims, and compliance for brokers, carriers, and law firms, empowering them to deliver better outcomes with speed and accuracy.
With its Pre-Seed funding, Qumis is positioned to expand its capabilities and redefine how insurance professionals approach knowledge work in a rapidly evolving industry.
