Bind AI launches with $10M to put insurance automation inside the broker's inbox

Bind AI, a New York-based InsurTech, has launched publicly with $10M in venture funding behind an AI platform that automates commercial insurance workflows from submission intake through to binding.

The company says it is already working with hundreds of insurance agencies and handling billions of dollars in commercial premiums. Its pitch rests on a lopsided statistic: agents and brokers sell roughly 90% of business insurance in the US, according to the company, yet spend only around 10% of their time with clients. Much of the remainder goes to repetitive work — rekeying submission data, chasing insurers for quotes, preparing proposals and processing policies.

Bind AI automates those tasks across the quote-to-bind process, and the company claims its platform saves agencies hundreds of hours each month.

Where it differs from conventional workflow software is placement. Rather than requiring brokers to adopt a separate portal, Bind AI operates directly through their existing email inboxes and carrier quoting portals. It processes incoming emails and documents, identifies the work required and completes tasks for brokers to review — letting agencies automate existing processes without changing established working habits or taking on another standalone system. Inside carrier quoting portals, the company says it has already quoted hundreds of millions of dollars in premiums, which it claims has helped brokers win and retain millions of dollars in commercial business.

Bonfire Ventures led the funding, with participation from Ramp co-founder Karim Atiyeh and Draper Associates.

The $10M raised has supported Bind AI's expansion across insurance agencies and brokerages nationwide, alongside growth in its New York team.

Founder Tony Marshi framed the product as a teammate rather than a tool, arguing that the hundreds of agencies already live on the platform are evidence that brokers adopt quickly when they are sold outcomes instead of software.

Bonfire Ventures co-founder and managing director Jim Andelman said building AI-powered, service-as-software solutions to modernise legacy workflows in the insurance vertical is one of today's most exciting opportunities, adding that Bind AI has already built impressive momentum and is poised to revolutionise what he described as a trillion-dollar market.

The launch reflects a broader push to use AI to automate administrative work across insurance distribution. For established agency management and quoting platforms, the shift could also change how brokers interact with software: if AI systems can execute tasks through existing inboxes and carrier portals, standalone interfaces may become less central to day-to-day operations.