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aVenture is in Alpha: aVenture recently launched early public access to our research product. It's intended to illustrate capabilities and gather feedback from users. While in Alpha, you should expect the research data to be limited and may not yet meet our exacting standards. We've made the decision to temporarily present this information to showcase the product's potential, but you should not yet rely upon it for your investment decisions.
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Pibit.ai: Revolutionizing P&C insurance with AI-driven document structuring and data enrichment for smarter decisions.
Pibit.ai, an insurtech startup, aims to revolutionize the commercial Property & Casualty (P&C) insurance industry through AI-powered document structuring and data enrichment. Founded with a mission to streamline the underwriting process, Pibit.ai transforms unstructured submission documents like loss runs and Statements of Values (SOVs) into structured data. This enriched data, combined with insights from third-party sources, provides a comprehensive view that enhances decision-making and automation within commercial underwriting workflows.
Pibit.ai has garnered attention from leading carriers and Managing General Agents (MGAs) for its innovative solutions. The company boasts significant achievements, including a 5x increase in underwriting productivity and a 6% reduction in loss ratios. By automating submission intake and providing faster, accurate loss run analysis, Pibit.ai has made a substantial impact on the efficiency and effectiveness of the P&C insurance sector.
Operating Status
Active
Ownership Type(s)
Venture Capital
Main Product(s)
Data Enrichment
Technology
AI, Machine Learning
Tags
Insurtech, SaaS
Model Types
Software, Datainformation
Revenue Type(s)
Recurring
Customer Type(s)
Enterprise
Geographic Exposure
Americas
When was Pibit.ai founded?
Pibit.ai was founded in 2020.
Where is Pibit.ai’s headquarters located?
Pibit.ai’s headquarters is located in Palo Alto, CA, US.
When was Pibit.ai’s last funding round?
Pibit.ai’s most recent funding round was for $500k (USD) in March 2023.
How many employees does Pibit.ai have?
Pibit.ai has 31 employees as of Feb 4, 2024.
How much has Pibit.ai raised to-date?
As of July 05, 2023, Pibit.ai has raised a total of $625k (USD) since Mar 10, 2023.
Add Comparison
Total Raised to Date
$625k
USD
Last Update Mar 10, 2023
Last Deal Details
$500k
USD
Mar 10, 2023
Seed
Total Employees Over Time
31
As of Feb 2024
Pibit.ai Address
3260 Hillview Av
Palo Alto,
California
94304
United States
Source(s): This page includes data and analysis provided by the company, OpenAI, and our research analysts