The Pulse

Ancep raises $8.5 million for insurance-broker AI agents

Ancep has raised $8.5 million in a funding round led by Creandum. The company builds AI agents to handle routine work for commercial insurance brokers.

AI.info Team · Written with AI · fact-checked · 2026-11-11

Ancep has raised $8.5 million to build AI agents for commercial insurance brokers, the company said in an announcement on November 10. Creandum led the funding round.

The London-based company emerged from stealth alongside the announcement. Kleiner Perkins and Vicus Ventures also participated, as did angel investors and operators from OpenAI, Anthropic and Google DeepMind.

Ancep plans to use the funding for growth and hiring.

Turning to smaller risks

Ancep is targeting work that brokers decline or leave in their queues because the commission is too small relative to the effort required to place the insurance. The company estimates that up to 30% of the risks a broker sees fall below that threshold and that about half of those could be placed profitably.

It puts the revenue a large brokerage never books from those risks at 5% to 10%, and says its agents help recover that revenue within a few weeks without adding headcount. The company is selling its product as a way to generate new revenue rather than solely as a tool to reduce costs.

How the agents work

The agents read a client’s submission, prepare the broker’s standard documents and approach insurers for terms through email, portals or APIs. They operate within brokers’ existing platforms, including policy administration systems, electronic trading portals and customer relationship management systems.

Ancep says it deploys the technology one workflow at a time, beginning where it expects the quickest benefits. It says it shows a working prototype within two days of signing a nondisclosure agreement and charges a portion of the value its agents create, receiving payment only when the broker is paid.

Broking teams review every agent output before it takes effect, and only an authorized broker can bind coverage. The company says each client operates in an isolated environment and that nothing is pooled or used for training across brokerages without explicit consent.

Early customers

Ancep says its agents are live with A.C.I.C. Financial Advisory in Austria, a top-10 UK broker and the specialty lines of a top US broker. The chief operating officer of one customer division reported a 10% revenue increase within six weeks of going live, according to the company.

At A.C.I.C., which specializes in credit insurance and surety, brokers have spent time reviewing policy wording, comparing insurer terms, preparing submissions and extracting information from large document sets. Ancep says its agents now support that work and that detailed contract and policy reviews take a fraction of the previous time. The firm has taken on more clients without adding administrative headcount, according to Ancep.

A.C.I.C. managing director Christoph Zawadil said specialists were using the time recovered to advise clients, enter new markets and develop insurance products. “We did not do this to cut costs but to get our specialists’ time back,” he said.

Founders and plans

The company is starting with the world’s twenty largest brokers. Founders Gagan Khurana, the CEO, and Jake Turner, the CTO, met at Oxford.

Before Ancep, they worked together for a year at Scope AI, a provider to the testing, inspection and certification industry. Khurana ran sales and Turner ran engineering as Scope AI’s revenue grew rapidly in under a year and it raised a $20 million Series A from Index Ventures.