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Cara, an AI platform for insurance brokerages, raised an $8 million seed round, CEO Vic Yeh tells Axios Pro exclusively.

The big picture: Legacy systems, regulatory risk and security concerns have limited AI adoption in the insurance industry.

Follow the money: Kearny Jackson led, with participation from Stripe's former COO, Claire Hughes Johnson, and Colin Evans, who works in startups and VC partnerships at OpenAI.

"Cara went from zero revenue to crossing seven figures in seven months," Yeh says.

How it works: The New York-based platform automates insurance brokerage workflows, including comparing coverage, filling out forms and handling client requests, through AI that integrates with existing agency management and CRM systems.

Context: U.S. insurance broker stocks fell in February after an AI tool from the online insurance shopping platform Insurify sparked fears over industry disruption.

Yes, but: AI leaders in insurance have generated 6.1x higher total shareholder returns than those who haven't embraced the tech over the last five years, according to McKinsey.

"We think that AI will empower agents to do more, instead of replacing them," Yeh says. "Every step of Cara's execution process requires human approval at the end of the day."

What we're watching: Yeh wants to expand Cara's capabilities beyond the core workflows, aiming to make insurance roles more specialized and attractive to younger talent.

Exclusive: Cara raises $8M to automate insurance brokerages

The AI platform automates insurance workflows.

Illustration of stacks of money getting increasingly higher with an office chair placed on the highest stack on the far right. 

Cara, an AI platform for insurance brokerages, raised an $8 million seed round, CEO Vic Yeh tells Axios Pro exclusively.The big picture: Legacy systems, regulatory risk and security concerns have limited AI adoption in the insurance industry.

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Exclusive: Cara raises $8M to automate insurance brokerages

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