The investment will drive product development and support the European expansion of Foliume’s AI assistants, which are transforming how brokers, agents, and bancassurance teams handle quotes, policy renewals, and customer support.
Insurance intermediaries have long been burdened by inefficient processes, from tedious quote comparisons to slow customer response times. Foliume eliminates manual work, enabling faster and more accurate responses. By reducing quoting and renewal times from hours to minutes, teams can shift their focus to higher-value tasks like advising clients, closing deals, and strengthening customer relationships. CEO Martín Fagioli emphasized this shift, stating, “Insurance intermediaries have been stuck with time-consuming processes for too long. Our AI assistants handle the repetitive work – from filling out forms to comparing policies – so brokers can focus on what really matters: advising clients and delivering a great customer experience.”
The platform directly targets common pain points in brokerage operations. Brokers traditionally juggle multiple insurer portals to gather quotes, but Foliume automates this by aggregating and comparing quotes from various carriers, all accessible via WhatsApp, email, or API. Error-prone data entry, which can lead to costly mistakes, is minimised as the AI auto-fills forms and validates data across documents. Policy renewals, which often require repeating the quoting process and searching for better offers, are streamlined by automatically re-rating policies and highlighting optimal alternatives. Additionally, slow response times, a major frustration for clients, are drastically improved as Foliume generates quotes and coverage options in minutes.
Unlike general-purpose AI models, Foliume takes a specialized approach, fine-tuning advanced AI models specifically for insurance workflows. This ensures a deep understanding of industry-specific terminology, coverage details, and underwriting rules. The AI interprets policy documents and broker submissions with high accuracy, producing immediate, relevant outputs such as risk evaluations or quote suggestions. “We deliberately chose to tailor our AI to insurance because off-the-shelf AI often misses the nuance of industry-specific tasks. By honing in on insurance use cases, we deliver more precise and reliable automation that brokers and agents can trust day-to-day,” Fagioli explained.
The $1M funding, led by Belgium-based venture fund Pitchdrive and Telefónica’s innovation platform Wayra, validates Foliume’s vision of an AI-powered future for insurance distribution. Koen Christiaens, Founder and Managing Partner at Pitchdrive, highlighted the platform’s potential: “We backed Foliume because they’re solving a real and urgent problem in the insurance industry. The team has built an innovative SaaS platform that helps brokers modernize their operations, drive efficiency, and unlock new revenue streams. Their rapid growth, strong customer engagement, and clear expansion roadmap showed us a business with both momentum and long-term potential. It’s exactly the kind of B2B SaaS company we love to support at Pitchdrive.”
The funding will accelerate product development and European expansion, focusing on enhancing the AI engine, adding client-driven features, and onboarding strategic partners in key markets. Augusto Pérez Arbizu, Corporate Director of Risk and Insurance at Telefónica, emphasized the broader impact, stating, “The investment in Foliume is part of our commitment to driving digitalization and innovation in the insurance sector. Through this partnership, we not only support the industry’s digital transformation, but also provide insurance professionals with tools that enhance their productivity and effectiveness.” With this backing, Foliume is poised to redefine efficiency in insurance distribution, making the quoting and renewal process faster, more accurate, and more seamless than ever before.
