How is Sixfold’s Series B Round Fuelling Generative AI?

The insurtech specialist Sixfold has raised US$30m in a Series B funding round led by Brewer Lane to accelerate the development of its generative AI underwriting technology.

This investment round included strategic participation from Guidewire alongside continued backing from existing investors Bessemer Venture Partners and Salesforce Ventures.

The capital injection is earmarked for the creation of what the company describes as the AI Underwriter which functions as a digital brain capable of managing end-to-end underwriting tasks autonomously.

Sixfold’s technology is designed to improve the speed and consistency of decision-making for carriers while allowing human professionals to pivot toward more strategic portfolio management.

Alex Schmelkin, Founder and CEO of Sixfold says: “The underwriting role is being rebuilt from scratch. 

“We're creating a future where underwriting operations completely run on Sixfold and strategy is run by people. 

“We're redefining what it means to be an underwriter.”

By expanding its research and engineering teams the firm aims to enhance its autonomous agents and broaden its data integration capabilities to reduce the time to value for new clients.

The company plans to scale its commercial operations to meet rising demand across North America and Europe while establishing a stronger presence in Latin America and Australia.

Integration with existing policy systems

A primary driver of the platform's adoption is its ability to integrate directly into the workbenches and policy administration systems already used by insurance professionals.

This integration allows for rapid implementation without forcing teams to alter their established workflows or learn entirely new software environments.

Jane Tran, Co-founder and COO of Sixfold notes: “There's a clear split forming in the industry. 

“To win business, you need speed and selectivity to quote quickly and write profitable risks. 

“To retain talent, you need to give time back to underwriters to focus on strategy. 

“Sixfold delivers both, and that competitive advantage increasingly shows up in combined ratio performance."

Impact on the insurance combined ratio

As the industry faces increasing pressure on margins the efficiency gains provided by AI are becoming a key differentiator for global carriers.

The Sixfold AI underwriting solution has already processed more than 1 million submissions across 40 different lines of business for major global entities.

These insurers represent a combined US$265bn in gross written premium and include names such as Zurich North America and Generali GC&C.

At Skyward Specialty the deployment of the platform across 11 teams resulted in a 35% reduction in quote response times.

Zurich North America implemented the system for its middle market team of 200 underwriters and reported saving up to two hours on every submission processed.

The software helps identify risks that match a carrier's specific appetite while flagging potential issues that require human intervention.

Jay Grayson, Vice President of Corporate Development and New Ventures at Guidewire notes: "Underwriting remains one of the most critical and complex functions in P&C insurance. 

“Sixfold's approach tackles that complexity and delivers meaningful value to insurance carriers by applying agentic AI to key underwriting processes."

By streamlining the ingestion of unstructured data the platform removes the manual burden of data entry that has historically slowed down the commercial insurance sector.