Pace, an AI operations partner for insurers, has raised $46 mn in Series B funding to expand its agentic workforce across insurance operations. Thrive Capital and Sequoia Capital co-led the round, with Emergence Capital and Pruven Capital also participating.
The company plans to use the new capital to scale AI agent capabilities across the U.S., Europe, and additional international markets.
Pace said its platform will target tens of mn of operations tasks this year, covering work that insurers still handle through manual processes, legacy systems, and document-heavy workflows.
Pace works with several publicly known insurers and brokers, including The Mutual Group, Newfront, Prudential, and WTW. Since launching last year, the company’s AI agents have autonomously completed more than 250,000 critical insurance workflows.
At Prudential, Pace automates large volumes of manual work across policy servicing and issuance for customer acquisition. In claims, Pace has worked with Ryze Claim Solutions to reduce claim cycle times by 30%.
At Convex US, its agents speed up data ingestion for new business and renewals.
The platform uses AI agents built to navigate internal applications, interpret documents, and conduct phone calls. The main use cases include submission intake, policy servicing, claims handling, renewals, and data entry across back-office insurance operations.
Pace founder and CEO Jamie Cuffe said the company wants to insure more of the world’s risk. He said closing the $9tn protection gap starts with AI-native operations, with Pace agents built for that kind of work.
At Pace, we are on a mission to insure more of the world’s risk. Closing the $9 tn protection gap starts with AI-native operations and Pace agents are purpose built for that work.
Pace founder and CEO Jamie Cuffe
Thrive Capital partner Philip Clark said the firm looks for companies built around timely ideas and founders suited to the problems they pursue. He said AI models are now automating and supporting high-value parts of the knowledge economy, and described Cuffe as a founder who fits that shift.
“We are in this really special moment where the most important high value parts of the knowledge economy are being augmented and automated to a significant degree by these models and Jamie is one of those people where you go in biased to saying yes,” he added.
Pace said leading insurers have used its agents to complete more than a quarter of a mn insurance workflows since launch. The company cited Prudential’s use of AI agents to automate thousands of operating hours across customer acquisition.
It also said Palomar resolves 90% of policy servicing tasks without expanding customer service headcount in direct proportion to volume.
For Convex, Pace supports faster data ingestion across new business and renewals. The company said these deployments help insurers separate operating cost growth from business volume growth, especially when teams face spikes in activity.
WTW has also positioned Pace as part of a longer-term operating model shift. Terry Garrett, head of strategy and operations for risk and broking at WTW, said the partnership combines shared ambition, compatible strengths, and a commitment to improving outcomes for clients and colleagues.
We’re delighted to be partnering with Pace. Our collaboration brings together shared ambition, complementary strengths, and a real commitment to doing things better – for our clients, colleagues, and the wider industry.
Terry Garrett, head of strategy and operations for risk and broking at WTW
“This partnership will make a meaningful difference to our business model over the long term,” Garrett said.
Pace describes itself as an AI operations partner rather than a generic automation vendor. Its agents are configured for insurance work across submissions, renewals, servicing, and claims. They reason through complex forms, handle long email chains, conduct extended phone calls, and move across homegrown desktop systems and older terminal-based applications.
The company configures agents through natural language instructions, which it calls Agent Operating Procedures. After each task, the agents learn the customer’s working patterns and refine how they complete similar processes.
Pace said it will invest the Series B capital to help customers scale agentic workforces across tens of mn of operations tasks this year. The expansion will cover the U.S., Europe, and wider global markets.
The company links its operating model to the broader protection gap. Pace said 60% of global losses went uninsured last year, with some of that tied to regulation and risk capital. It argues a meaningful share comes from operational economics, where demand exists and underwriting works, but the cost to serve makes smaller or complex policies uneconomic.
When operations costs fall, insurers gain more room to launch products, serve smaller accounts, and pay claims faster. Pace says AI-native operations can help small businesses receive service quality closer to large enterprise accounts, while claims move in hours rather than weeks.
According to Beinsure analysts, Pace’s funding round reflects growing investor interest in insurance AI that changes unit economics rather than adding chat features.
The company targets the expensive middle of insurance operations: intake, servicing, claims administration, and document processing. If the agents perform reliably across regulated workflows, insurers gain more than productivity. They gain capacity to write business that previously looked too costly to handle.
