Ancep raises $8.5M
London-based insurtech startup Ancep, which develops AI agents that automate insurance placement processes and help commercial insurance brokers handle more business opportunities, reduce administrative workloads and generate additional revenue, has raised $8.5 million in a funding round led by Creandum.
The round also included participation from Kleiner Perkins and Vicus Ventures, as well as angel investors including former Aon CFO Christa Davies and operators from OpenAI, Anthropic and Google DeepMind.
Ancep develops AI agents designed to help commercial insurance brokers automate routine tasks involved in placing insurance policies. The company’s technology operates within brokers’ existing systems, including policy administration platforms, electronic trading portals and customer relationship management tools.
Founded by Gagan Khurana and co-founders, the company rolls out its AI agents through individual workflows, focusing on processes where automation can deliver the most immediate benefits. Its pricing model is linked to the value generated for brokers.
The company’s AI agents are already being used by insurance brokers in Austria, the UK and the US, including ACIC Financial Advisory. The new funding will support Ancep’s growth and hiring plans.
“What we sell is net new revenue. Plenty of people are betting brokers get disintermediated. We think the opposite: brokers have huge leverage, and no chatbot is going to replace it. So we are not building around them, we are building for them, and we are starting with the twenty largest in the world.”
