Data entry insurtech Kay.ai raises $3 million in Wing-led round

(The Insurer) - Kay.ai, an AI-powered insurtech focussed on automating data entry work for insurance brokers and agencies, has raised $3 million in a round led by Wing VC, with participation from South Park Commons, 101 Weston Labs and several angel investors.

The funding is meant to grow the Kay.ai team and expand automation beyond quoting to a wide range of servicing workflows for insurance brokers, MGAs and carriers.

Kay.ai was founded by Vishal Rohra and Achyut Joshi, machine learning engineers with backgrounds at Microsoft, Twitter, Amazon and Relyance AI.

"The insurance industry still runs on manual workflows that create massive operational bottlenecks and prevent companies from scaling efficiently, particularly with a labor shortage that is becoming more acute over time," said Wing VC partner Tanay Jaipuria.

"Kay.ai (has) built an AI co-worker that plugs directly into existing systems and can perform the most time-consuming and repetitive insurance workflows."

The Fidella Agency and Weed Ross Insurance are currently using the tool.