Fulcrum, an AI platform for insurance brokerages, has secured $25 million in combined Seed and Series A funding. The investment round was led by CRV, with additional participation from South Park Commons, Foundation Capital, and a consortium of insurance and technology angel investors.
The company specializes in modernizing day-to-day workflows for insurance brokerages through the deployment of AI agents. These agents are designed to manage tasks such as coverage and claim analysis, proposal generation, client and carrier sales preparation, policy checking, and certificate issuance.
Historically, insurance brokerages have relied on offshore Business Process Outsourcing (BPO) partners for servicing tasks like policy checking and certificate generation. This approach often involves multiple handoffs between BPO teams, account managers, and carriers, leading to delays, errors, and compliance risks. Fulcrum, co-founded by CEO Arjun Mangla and CTO Sambhav Anand, aims to address these operational inefficiencies by enabling brokerages to deliver faster, more accurate service without increasing headcount or depending on external BPO providers.
Mike Heffernan, President and CEO of Heffernan Insurance Brokers, noted that partnering with Fulcrum has enhanced policy delivery speed and precision, contributing to an improved client experience and significant internal efficiencies.
Fulcrum’s platform integrates with existing agency-management systems, including Applied Epic. It processes policy documents from email and reconciles data across various systems in real time. The workflow engine automates the cross-checking of coverage data, identifies discrepancies, and updates client records without requiring manual intervention.
The platform currently executes over 2,500 hours of manual work daily across brokerage teams. This has resulted in a reduction of policy delivery times from a minimum of 15 days to same-day service, and proposal-generation cycles have been cut from six to eight hours to under two.
Arjun Mangla stated that Fulcrum is re-architecting the brokerage back office with AI that is precise and integrated into existing team workflows, challenging the long-standing reliance on complex and outdated systems. Fulcrum’s customer base includes a number of the top 50 U.
S. insurance brokerages, indicating adoption among firms that previously depended on offshore BPOs for policy checking and quality assurance.
Reid Christian, General Partner at CRV, commented that Fulcrum is positioned to transform the operations of insurance brokers within a trillion-dollar market, by integrating a solution that replaces slow, outsourced workflows with AI capabilities directly within existing systems.
Technologically, Fulcrum utilizes multiple large language models specifically developed for the insurance lifecycle. These models are enhanced with proprietary retrieval, reasoning, and validation pipelines to ensure accuracy and compliance. The platform’s direct integration with brokers’ systems of record, such as AMS and email infrastructure, facilitates real-time data extraction and reconciliation for policies, proposals, and certificates, enabling policy validation and renewal workflows without requiring changes to existing tools or processes.
Sambhav Anand explained that the complexity and volume of data in insurance made such automation challenging until recent advancements in AI, which now allow for the automation of manual, repetitive tasks, enabling brokers to focus on higher-value work.
