""The U.S. commercial insurance market processes hundreds of billions in premiums every year, with the excess and surplus segment alone reaching nearly $100 billion in 2024. And the entry point for all of that business, the submission, is still handled almost entirely by hand. We built Aurora to change that.""
""Ola Kolade spent two years watching insurance submissions move through the commercial insurance system the same way they have for decades: slowly, manually, and one PDF at a time.""
Underflow Inc. has developed an AI system named Aurora to automate the processing of insurance submissions for commercial underwriters. Founded by Ola Kolade, the company raised $2.75 million in seed funding led by Maple VC. The AI system reads submissions, extracts data, identifies missing information, and communicates with brokers autonomously. The U.S. commercial insurance market processes hundreds of billions in premiums annually, yet submission handling remains largely manual. Aurora aims to revolutionize this outdated process.
Read at The Village Voice
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