US-based medical professional liability insurtech Indigo has closed a $50 mn Series B funding round as it accelerates national expansion and deepens its technology stack.
The round was oversubscribed and led by existing investor Rubicon Founders. New investor Town Hall Ventures joined the raise alongside returning strategic backer Optum Ventures.
Indigo said the capital will fund expansion of its AI-driven underwriting and distribution platform, with a heavy allocation toward research and development. The company positions technology as the primary lever for scaling specialty insurance without adding operational drag.
Founded in 2023, Indigo underwrites medical professional liability across multiple physician specialties.
The insurtech reports coverage for nearly 1,000 healthcare professionals nationwide and more than $10 mn in written premiums, a pace that puts it ahead of many early-stage peers.
Chief executive Jared Kaplan said the next phase of insurance innovation depends on technology built for complex risk rather than retrofitted automation.
He said the new funding allows Indigo to expand its technology footprint, tighten underwriting discipline, and improve broker-facing workflows, while delivering pricing aligned more closely with physician risk profiles.
The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk. This funding allows us to expand our technology footprint, deepen underwriting rigour and deliver an exceptional ease-of-doing-business experience for brokers – while ensuring physicians receive pricing and coverage aligned with their true risk profile.
Jared Kaplan, Indigo CEO
Kaplan said automation already supports profitable growth by stripping friction out of underwriting and distribution. According to Beinsure analysts, specialty liability remains one of the least automated segments of US insurance, despite rising data availability.
At the centre of Indigo’s model sits Lux, its proprietary AI system. Lux applies machine learning and risk modelling to underwriting tasks historically handled through manual review.
By the end of 2025, Indigo said about 20% of submissions moved through fully automated underwriting, a share the company expects to rise as models mature.
The Series B funding backs further buildout of those capabilities as Indigo expands its footprint across the US medical professional liability market, where pricing accuracy and turnaround time remain persistent pain points for physicians and brokers.
Rubicon Founders co-founder and Indigo partner Matt Kim said the company operates at the intersection of domain expertise and applied AI.
He said Indigo’s vertical AI approach reshapes how risk is assessed, priced, and managed, improving both underwriting speed and decision quality. He added the capital positions Indigo to scale faster than traditional carriers constrained by legacy systems.
