ARGO AI is building an AI-native specialty insurance business for small- and medium-sized companies (SMEs). Specialty insurance policies often require underwriters to review large volumes of company and transaction documents before pricing risk. This process is slow and expensive, meaning that it can work for large policies but generally not for small and mid-market ones. As a result, insurers have historically avoided the segment. ARGO AI changes that by giving human underwriters AI-native leverage. As a vertically integrated business, with capacity to underwrite policies on behalf of major carriers as a Managing General Agent (MGA), the company uses its proprietary platform to conduct the analysis required to underwrite a policy far faster and more efficiently than could be done manually. A human underwriter retains final judgement on every policy, but with the substantial reduction in the time and expense leading up to sign-off, ARGO AI makes it viable to write policies for previously underserved SMEs.
– Investor
