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§ Private Profile · London, United Kingdom
AI underwriting platform applying data analytics to streamline underwriting for specialty and commercial insurance.
Based in London, United Kingdom, Concirrus is a software-as-a-service provider that develops an artificial intelligence-driven underwriting platform for the specialty and commercial insurance markets. The company's core software, Quest, utilizes data analytics, domain-specific knowledge graphs, and agentic AI to streamline risk assessment across sectors such as marine, aviation, and construction. By analyzing behavioral and situational data alongside historical claims, the platform enables insurers, reinsurers, and brokers to accelerate underwriting decisions and optimize portfolio management, recently helping one commercial marine insurer reduce its loss ratio by seven percent. Concirrus has raised over $40 million in total funding to date, supported by venture capital investments from recognizable firms including IQ Capital Partners, Eos Venture Partners, and Touchstone Innovations. The company was originally founded as an Internet of Things enterprise in 2012 by Andrew Yeoman and Craig Hollingworth.
Concirrus has raised $45.3M across 6 funding rounds.
Concirrus has raised $45.3M in total across 6 funding rounds.
Concirrus has raised $45.3M across 6 funding rounds. Most recently, it raised $6.0M Other Equity in July 2020.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jul 14, 2020 | $6M Venture Round | Heiko Schwender | — | Announced |
| Feb 17, 2020 | $20M Series B | Robert Whitby Smith | EOS Venture Partners, MAX Bautin | Announced |
| Sep 25, 2018 | $6.6M Venture Round | Jonathan Kalman, MAX Bautin | — | Announced |
| Jun 1, 2017 | $4M Series U | — | Alma Angels | Announced |
| Sep 1, 2016 | $4M Series A | — | Alma Angels | Announced |
| Aug 5, 2015 | $4.7M Venture Round | Kelsey Lynn | — | Announced |
Concirrus is an AI-driven insurtech platform specializing in specialty and commercial insurance underwriting. It builds an AI-first Underwriting Workbench that automates submission ingestion, instant technical rating, quoting, compliance checks, ESG monitoring, and portfolio management, turning hours-long processes into seconds or minutes.[1][2][3][6] Serving leading global insurers in complex lines like aviation, marine, transportation, surety, construction, property, political violence, and terrorism, Concirrus solves key pain points: imprecise risk assessment, slow decisioning, manual reviews, and exposure blind spots, delivering up to 90% faster processing, 70% less manual review time, 97% submission accuracy, and real-time risk insights to boost profits and reduce losses.[1][3][5][6] Ranked #13 in the UK's Top 50 Most Innovative InsurTechs for 2025 and the first insurtech with triple AI governance certifications (ISO/IEC 42001, 27001, SOC 2), it demonstrates strong growth through insurer partnerships like Diesta for quote-to-cash acceleration.[3][4][5][7]
Concirrus emerged as a pioneer in AI for commercial insurance, with a focus on specialty lines' complexity, though exact founding details are not specified in available sources.[1][3] Led by figures like Vinod Singh, President & CTO, the company has evolved by embedding deep domain expertise with multi-model AI pipelines, starting from data integration and machine learning for the full insurance lifecycle.[2][3] Pivotal moments include recent 2025 recognitions—top UK InsurTech ranking, Best AI Technology awards in UK/USA, and groundbreaking certifications—alongside partnerships like Diesta to streamline specialty market workflows, building on customer testimonials of substantial growth and exceptional development collaboration.[3][4][5][6][7]
Concirrus rides the AI-first insurtech wave in specialty insurance, where unstructured data explosion and rising complexities (e.g., climate risks, green infrastructure, secondary perils) demand algorithmic underwriting over manual processes.[2][3][5][7] Timing is ideal amid 2025 regulatory pushes for AI governance and the shift to real-time, data-driven P&C decisions, positioning it ahead of competitors in a market projected to evolve risk transfer by 2030.[4][6] Favorable forces include insurer needs for efficiency amid talent shortages and loss pressures, plus its data partnerships and London Market fit amplifying scalability.[1][5] It influences the ecosystem by setting benchmarks—via certifications and top rankings—driving adoption of harmonious multi-AI for precision, while enabling brokers/insurers to handle more volume profitably.[3][4][7]
Concirrus is primed for expansion with its validated platform, likely deepening integrations, entering new specialty lines, and scaling globally via proven metrics and partnerships. Trends like advanced ESG/compliance AI, climate risk modeling, and automated bind processes will propel it, evolving its influence from efficiency enabler to industry standard-setter in responsible AI underwriting. As specialty risks intensify, its architecture—turning data chaos into intelligence—ties directly to revolutionizing decisions in seconds, securing leadership in a profitable, tech-led future.[3][4][6]
Concirrus has raised $45.3M in total across 6 funding rounds.
Concirrus's investors include Heiko Schwender, Robert Whitby-Smith, Eos Venture Partners, Max Bautin, Jonathan Kalman, Alma Angels, Kelsey Lynn.