London-based insurtech startup Ancep has raised $8.5 million in a funding round led by Creandum. Kleiner Perkins and Vicus Ventures also participated. Angel investors in the round include former Aon CFO Christa Davies and operators from OpenAI, Anthropic and Google DeepMind.
Ancep develops AI agents that automate routine work involved in placing insurance policies. The aim is to let commercial brokers pursue more business without adding administrative load. Falling insurance rates are squeezing brokers, while smaller policies often demand the same effort as larger ones but earn lower commissions. Brokers may therefore deprioritise or turn down such opportunities, and lose potential revenue.
The company's agents process client submissions, prepare brokerage documents and approach insurers for terms by email, online portals or APIs. They operate inside brokers' existing systems, including policy administration platforms, electronic trading portals and customer relationship management tools.
The platform is built to support brokers, not replace them. Authorised brokers remain responsible for binding coverage, and broking teams review the agents' outputs before any action takes effect. Client data is held in isolated environments and is not shared or used for training across brokerages without explicit consent.
Ancep rolls out its technology through individual workflows, starting where automation offers the quickest benefit, and ties its pricing to the value it generates for brokers. Co-founder and CEO Gagan Khurana said tools centred on saving time and cutting costs have often struggled to gain traction and led to lengthy procurement. "What we sell is net new revenue," he said, adding that the company is building for brokers and starting with the twenty largest in the world.
Brokers in Austria, the UK and the US already use the agents, including ACIC Financial Advisory. The new funding will support growth and hiring.
