Insurtech Federato, AI-powered insurance underwriting platform, rolled out an enterprise-grade agentic AI platform designed to change how insurers evaluate risk, generate quotes, and manage underwriting decisions.
Alongside the AI, the company introduced Control Tower, a portfolio management system built with input from dozens of P&C carriers.
The problem is straightforward. Insurers face a tidal wave of submissions and can’t sort the good from the noise.
Less than a quarter of bound risk aligns with most carriers’ strategies, which means resources often go to mismatched opportunities.
Federato’s new system claims to flip that dynamic by letting underwriters act instantly on high-value risks instead of wading through outdated manual workflows.
According to the company, the AI mirrors how human underwriters think but processes data at machine speed.
Quotes that once required hours or days now arrive in minutes. Each one comes with an explanation of the model’s reasoning, an attempt to answer the inevitable skepticism around transparency in automated decisions.
Control Tower, the second piece of this release, attempts to fix another longstanding headache: portfolio oversight.
Instead of static rules buried in PDFs or clunky compliance checks, the system bakes insurer strategies directly into daily decisions.
Think of it as governance that runs in real time, guiding underwriting teams while feeding executives the visibility they’ve been missing.
Federato CTO William Steenbergen called the rollout “a transformative way of working,” pointing out that AI crunches enormous datasets instantly while freeing underwriters to handle the judgment calls and client relationships that machines can’t.
It’s a transformative way of working. AI analyzes large amounts of data at machine speed, while freeing expert underwriters to do what they do best: making nuanced decisions and building relationships.
William Steenbergen, Federato co-founder and CTO
CEO Will Ross went further, arguing the industry has been shackled by what he labeled an Old Core – legacy systems stitched together over decades that no longer match the pace of modern insurance.
What was once a solution is now a problem as these systems can’t meet the needs of the rapidly evolving industry.
Will Ross, Federato CEO
“For the first time, insurers can choose an AI-native platform that spans the full policy lifecycle – one that’s future-ready and able to help our customers drive better business outcomes every day.”
For insurers, the pitch is blunt: adopt AI-native infrastructure spanning the entire policy lifecycle, or risk getting stuck with tech that slows business instead of driving it.
Federato believes its mix of automation, analytics, and portfolio-level oversight gives carriers that choice, and maybe a way out of the mess they’ve lived with for too long.
In November 2024, Federato has raised a $40 mn Series C funding round, led by StepStone Group. Existing investors Emergence Capital, Caffeinated Capital, and Pear VC also participated.
The new funding increases Federato’s total capital raised to $80 mn since its inception in 2020. The funds will support Federato’s expansion in the UK, Europe, LATAM, and APAC.
Federato’s underwriting platform is widely adopted by underwriters at global carriers, MGAs, and mutuals. The platform simplifies underwriting by prioritizing submissions from inboxes based on appetite and potential.
It uses AI to evaluate accounts, matching them with underwriters’ preferences and maximizing success rates.
Federato, established in 2020, is an AI-driven underwriting platform serving the Property & Casualty (P&C) and specialty insurance sectors. Its RiskOps platform assists underwriters in prioritizing submissions, concentrating on high-value opportunities, and providing real-time portfolio insights.
The platform offers features such as automatic submission triage, real-time decision support, and a unified workflow interface, aiming to enhance underwriting efficiency and profitability.
