Kay.ai, an AI co-worker designed to eliminate manual data entry work for insurance brokers and agencies, announced it has raised $3 million in funding. Wing VC led the round, including South Park Commons, 101 Weston Labs, and several angel investors.
Through AI co-workers, Kay introduced new technology that goes beyond traditional software or legacy RPA tools. These co-workers understand your process, interact with your tools on your behalf, and adapt to your preferences. This unlocks a range of workflows across submissions, renewals, and servicing that could not be automated before.
Enterprises often outsource these high-volume and repetitive tasks to BPOs, but these firms struggle with high employee turnover and performance management. And this leads to slow turnaround times and costly human errors. Kay.ai is tapping into this massive BPO market with AI co-workers that eliminate these operational inefficiencies. This funding will be used to grow the team and expand automation beyond quoting to a wide range of servicing workflows for insurance brokers, MGAs, and carriers.
Kay.ai was launched by immigrant entrepreneurs Vishal Rohra and Achyut Joshi, machine learning engineers with backgrounds at Microsoft, Twitter, Amazon, and Relyance AI. And Rohra worked on AI initiatives across Azure, Xbox, MS Office, and Twitter, while Joshi specialized in data science at Amazon and Relyance AI.
After participating in the highly selective South Park Commons Fellowship, they worked on a range of AI applications before recognizing a massive gap in operational efficiency for the insurance back-office, which led them to build Kay.ai.
Kay has eliminated hours of manual data entry work every day for quoting tasks. Producers can simply forward an email or upload a PDF, and Kay will extract key details, enter data across carrier portals, and generate quotes without requiring lengthy onboarding or complex integrations.
Most automation tools depend on APIs and rigid workflows, which break down when the process or the website slightly changes. And Kay learns and operates like a team member, adapting to different systems, workflows, and customer preferences, only getting better with time. Several early partners such as Johnson Insurance, The Fidella Agency, and Weed Ross Insurance are already seeing major efficiency gains:
— Saves two hours of quoting time per application at 1/4th the cost
— Automates workflows in under two weeks, compared to months-long API integrations
— Eliminates manual errors and improves quoting accuracy
KEY QUOTES:
“The U.S. Bureau of Labor Statistics projects that the insurance industry will face a shortage of nearly 400,000 workers by 2026. Despite this looming talent shortage, brokers and agencies still spend up to 80% of their time on paperwork, weighed down by archaic systems and misaligned incentives. We eliminate that burden and act like a digital co-worker that handles the most tedious tasks so their team can focus on high-value work.”
— Vishal Rohra, co-founder and CEO of Kay.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. Kay.ai’s approach is transformative—they’ve built an AI co-worker that plugs directly into existing systems and can perform the most time-consuming and repetitive insurance workflows. Vishal and Achyut bring a rare combination of deep machine learning expertise and a relentless focus on product usability, positioning them perfectly to redefine how insurance work gets done.”
— Wing VC partner Tanay Jaipuria
“I was surprised that Kay could handle such complex scenarios out of the box. It is truly a set it and forget it system, with a high bar for accuracy.”
— Jessica Yarbrough, Chief Operations Officer at Johnson Insurance
