Fulcrum, an AI platform designed for insurance brokerages, has raised $25 million in combined Seed and Series A funding as it targets one of the industry’s most persistent bottlenecks: slow, manual back-office work tied to legacy systems, email-driven document flows, and outsourced servicing models.
The round was led by CRV, with participation from South Park Commons, Foundation Capital, and a group of insurance and technology angels. Fulcrum said it is already used by many of the top U.S. brokerages, positioning the company to scale within large firms that manage high document volume, complex coverage structures, and strict compliance requirements.
Insurance brokerages have long relied on offshore Business Process Outsourcing providers for labor-intensive servicing tasks such as policy checking and certificate issuance. Fulcrum argues that what started as a cost-saving measure has become a structural constraint, with multiple handoffs across BPO teams, account managers, and carriers contributing to delays, mistakes, and operational risk. At the same time, brokers face rising client expectations for faster turnaround and greater transparency, creating pressure to modernize without continually adding headcount.
Co-founded by CEO Arjun Mangla and CTO Sambhav Anand, Fulcrum is positioning its product as a set of AI agents that can take on a wide range of brokerage servicing and sales-support workflows, including coverage and claim analysis, proposal generation, policy checking, client and carrier sales preparation, and certificate issuance. The company said the goal is to reduce reliance on outsourced labor while improving consistency, speed, and auditability.
A key part of Fulcrum’s approach is deep integration with the systems brokerages already run on. The company said it integrates with agency management systems such as Applied Epic, pulls policy documents directly from email, and reconciles information across systems of record in real time. Fulcrum’s workflow engine is built to cross-check coverage data, flag discrepancies, and update client records without manual intervention.
Fulcrum reported that it is executing more than 2,500 hours of manual work each day across brokerage teams using the platform. The company also claimed significant time compression across common workflows, including reducing policy delivery timelines from a 15-day minimum to same-day turnaround and cutting proposal-generation cycles from 6 to 8 hours to under 2.
The funding will support continued product development and expansion as Fulcrum aims to become a core operating layer for brokerages looking to modernize policy servicing, renewals, and validation workflows while keeping their existing tools and processes intact. The company said its underlying architecture combines multiple large language models tailored to the insurance lifecycle, layered with retrieval, reasoning, and validation pipelines intended to improve accuracy and compliance when extracting, reconciling, and verifying data across policies, proposals, and certificates.
KEY QUOTES
“Technology is evolving at an incredible pace, and as brokers, we have an exciting opportunity to lead that change rather than react to it. Partnering with Fulcrum has allowed us to deliver policies with greater speed and precision, providing a superior experience for our clients while driving significant internal efficiencies.”
Mike Heffernan, President and CEO, Heffernan Insurance Brokers
“For too long, insurance brokerages have accepted a complex and outdated web of partners, paperwork, and legacy systems. We’re showing that it doesn’t have to be this way. Fulcrum is re-architecting the brokerage back office with AI that’s fast, precise, and deeply integrated into how teams actually work.”
Arjun Mangla, Co-founder and CEO, Fulcrum
“Insurance brokers sit at the center of a trillion-dollar market, but the systems that power their operations are decades old. Fulcrum is uniquely positioned to change that. The team has built a solution that fits directly into the systems brokers already use, replacing slow, outsourced workflows with AI that continuously handles the most operationally heavy parts of the job. It’s the kind of product that feels inevitable once you see it working.”
Reid Christian, General Partner, CRV
“There’s been no shortage of attempts to solve this problem over the years, but the truth is it simply wasn’t possible before now. The amount of variation, minutiae, and data that brokerages deal with is enormous. Even the best heuristic software couldn’t manage this level of complexity at scale. With recent developments in AI, that’s finally changed. We’re able to rethink how the manual, repetitive parts of the job get done so brokers can focus on the high-value work they actually enjoy.”
Sambhav Anand, Co-founder and CTO, Fulcrum
