The funding round was led by Fika Ventures, with additional investments from TTV and Dash Fund.
The company plans to leverage the capital to expand its workforce, accelerate platform enhancements, and strengthen partnerships with brokers and carriers. Outmarket AI utilizes natural language processing, machine learning (ML), and “insurance-specific knowledge graphs” to provide AI-driven insights and automation for the insurance sector.
Founded by Vishal Sankhla and Anshu Jain, Outmarket AI is designed to serve as a connectivity layer for wholesalers, retail agencies, and carriers. The platform enables users to seamlessly integrate structured and unstructured data, delivering real-time insights into market trends, premiums, and client profitability. By incorporating AI-powered recommendations, it simplifies data analysis, automates reporting, and identifies cross-selling opportunities.
According to Outmarket AI, early adopters of the platform have reported a reduction in quote comparison and policy review times by up to 80%, significantly enhancing efficiency. The company aims to modernize commercial insurance operations by eliminating outdated systems and manual processes.
CEO Vishal Sankhla emphasised the transformative potential of the platform, stating: “Brokers and carriers know they need to unlock the power of their data to stay competitive, but outdated systems and manual processes slow them down. Outmarket is the missing intelligence layer that modernizes commercial insurance instantly. With AI-powered insights and automation, we help insurance professionals work smarter, win more deals, and grow revenue – fast.”
Co-founder and CTO Anshu Jain echoed this sentiment, highlighting the company’s long-term vision: “Our vision is to empower every insurance professional with real-time intelligence at their fingertips. We are just getting started.”
As Outmarket AI continues to expand its reach, the company remains focused on revolutionizing the insurance industry with cutting-edge AI solutions, setting the stage for further growth and innovation in the sector.
