Ancep raises $8.5M led by Creandum for AI agents for commercial insurance brokers

Ancep has raised $8.5 million in a round led by Creandum, with Kleiner Perkins and Vicus Ventures participating. Angels include former Aon CFO Christa Davies.

The London company was founded this year by CEO Gagan Khurana and CTO Jake Turner. Its AI agents handle the admin of placing commercial insurance: they read client submissions, prepare broking documents and collect terms from insurers by email, portals or APIs, inside the systems brokers already use. Only an authorised broker can bind cover, and the broking team reviews every output.

The target is smaller risks that brokers often turn down; Ancep estimates they make up to 30% of the business brokers see. Users include ACIC Financial Advisory in Austria, a top-ten UK broker and part of a leading US brokerage. Ancep charges a share of the extra revenue rather than a subscription.