Indigo, an AI-driven medical professional liability insurance platform, has closed a $50 million oversubscribed Series B financing to accelerate product development, expand distribution, and scale operations across its malpractice coverage business. The round was led by existing backer Rubicon Founders, with significant participation from new investor Town Hall Ventures and continued support from strategic investors, including Optum Ventures.
Founded in 2023, the Miami-based company sells medical professional liability insurance to physicians across a range of specialties and reports insuring nearly 1,000 providers nationwide. Indigo also reported surpassing $10 million in premiums, positioning the company as an emerging player in a legacy insurance segment where underwriting and quoting have historically relied on manual workflows and long turnaround times.
At the core of Indigo’s pitch is Lux, its proprietary AI platform that uses machine learning and purpose-built risk models to automate labor-intensive underwriting tasks. Indigo said the approach has increased underwriting throughput while maintaining disciplined risk selection and strong broker satisfaction. By the end of 2025, the company reported that 20% of submissions were fully underwritten automatically, a milestone it framed as evidence that specialized automation can meaningfully compress cycle times in complex commercial lines.
The company said it will use the new capital to expand research and development, enhance product capabilities, grow distribution partnerships, and scale operations. Indigo aims to broaden its technology footprint and deepen underwriting rigor while improving the experience for brokers seeking fast, tailored quotes and for physicians seeking pricing and coverage aligned with their risk profiles.
The financing also reflects continued investor interest in vertical AI applications in insurance, particularly where automation can reduce administrative overhead and improve speed-to-quote. Investors backing Indigo characterized the company’s opportunity as creating a defensible advantage by combining domain expertise with machine learning to modernize underwriting, pricing, and risk management in malpractice coverage.
KEY QUOTES
“The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk. This funding allows us to expand our technology footprint, deepen underwriting rigor, and deliver an exceptional ease-of-doing-business experience for brokers—while ensuring physicians receive pricing and coverage aligned with their true risk profile. Our results demonstrate that advanced automation can drive profitable growth while reducing operational friction.”
Jared Kaplan, CEO, Indigo
“Indigo is executing at the intersection of deep domain expertise and AI excellence. Their vertical AI strategy isn’t incremental—it fundamentally redefines how risk is assessed, priced, and managed. We’ve seen firsthand how their models improve both the speed and quality of underwriting decisions, and this capital will help them scale faster than legacy carriers have been able to for decades.”
Matt Kim, Co-Founder, Indigo; Partner, Rubicon Founders
“Indigo represents exactly the type of category-defining opportunity we look for: By layering machine learning over deep insurance expertise, they’ve built a defensible moat and a superior underwriting product. Their ability to quote with lower administrative overhead creates a meaningful advantage in a legacy market, ultimately driving down premiums for high-quality medical groups.”
David Whelan, Co-Founder and General Partner, Town Hall Ventures
