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InsurTech Pioneer Sixfold Emerges With $6.5m Seed Funding, Revolutionising AI In Insurance

Things To Know About Sixfold

The privately held company founded in 2023 is the first generative AI designed to solve toughest hurdles 9f insurance industry by underwriting task and automating work. The company is headquartered in New York.

Currently, the company has secured a seed investment of $6.5m, provided by Bessemer Venture Partners and Crystal Venture Partners. This funding will lead to rapid transformation of AI of the company.

How The Funding Will Be Used –

With this funding, Sixfold is initially focusing on streamlining underwriting to a more convincing way. The company is deploying its AI assistant to help underwriters easily evaluate and rate submissions, by improving their capacity as well as the precision and traceability of their decisions before opting for a policy.

Sixfold’s has an AI assistant that promises to take over much of the tedious groundwork that underwriters have to contend with daily basis. By relying on current technologies, Sixfold allows insurance providers to redeem its benefits without the need to replace legacy systems as a plus point.

As per the recent bulletins, Sixfold is launching with BTIS which is a commercial insurance provider focusing on the construction and building trades industry sector. Sixfold’s tools in this collaboration will be instrumental in enhancing the speed and precision of BTIS underwriters’ work, thus enabling BTIS to focus more on issuing policies with more precise claims and conditions.

Moreover, the company is also launching in collaboration with BuildZoom, a leading provider of contractor profile data, property building permit data, and contractor sourcing services. The collaboration will allow for the benefits of consulting and advisory firms, cloud providers, risk and prior loss providers, and medical records providers to the customers.

The founding team of Sixfold includes former founders and operators, with extensive experience in heavily regulated industries.  

The team comprise of a marvelous team of workers-

Jane Tran, who is a former founding team member at Unqork, the $2bn enterprise no-code platform, joins as COO and co-founder. Brian Moseley, who was previously head of developer experience at American Express, has come on board as CTO and co-founder.

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