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Fulcrum, an AI platform for insurance brokerages, has raised $25 million in seed and Series A funding, CEO Arjun Mangla tells Axios exclusively.

Why it matters: Brokerages can cut turnaround times and free account teams to advise clients by automating document-heavy tasks.

Zoom in: The round includes a roughly $5 million seed led by Foundation and a roughly $20 million Series A led by CRV.

The big picture: Many large brokerages outsource tasks such as policy checks, which can lead to long turnaround times.

Account teams also spend hours moving documents via email, carrier portals, and agency systems rather than advising clients.

"[Brokerages] spend anywhere between 25% to 40% of their revenue on service operations," Mangla says.

How it works: San Francisco-based Fulcrum automates policy checking, proposal generation, and certificate issuance.

The product is designed to route outputs to a brokerage's existing systems, including agency management systems like Applied Epic, broker email, and carrier portals.

Between the lines: Fulcrum is trying to displace entrenched BPO contracts and the habit of routing work offshore.

"An account manager can literally throw us the original policy, just like they would give it to a BPO worker," Mangla says.

By the numbers: Fulcrum says it handles more than 2,500 hours of manual work per day, reducing proposal cycles from six to eight hours to under two.

It claims policy checking can move from a roughly 15-day outsourced turnaround to four to five minutes.

Behind the scenes: Mangla says that, working at McKinsey after studying computer science, he saw how much manual work banks and insurers do just to keep running.

He says he met co-founder and CTO Sambhav Anand in college, where he was Anand's TA. Anand later worked at Oscar Health and Affirm before the pair started Fulcrum.

Exclusive: Fulcrum raises $25M to automate broker servicing

The startup wants to replace slow, offshore insurance ops

Illustration of a hundred dollar bill with Benjamin Franklin replaced by a robot.

Fulcrum, an AI platform for insurance brokerages, has raised $25 million in seed and Series A funding, CEO Arjun Mangla tells Axios exclusively.Why it matters: Brokerages can cut turnaround times and free account teams to advise clients by automating document-heavy tasks.

Exclusive: Fulcrum raises $25M to automate broker servicing

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