Insurance exists to do something remarkable: turn uncertainty into security.
Every day, carriers around the world take on risk so that families can protect their homes, businesses can pursue growth, and people can plan for the future with confidence.
But between that mission and its execution sits an enormous amount of operational friction: processing submissions, servicing policies, adjudicating claims, and maintaining compliance. This work is essential, but it's also manual, repetitive, and resource-intensive. It slows down product launches. It creates inconsistency in customer experience. It makes entire markets uneconomical to serve.
The protection gap – trillions in risk that remains uninsured – isn’t a capital problem. It is an operations problem.
What if insurance operations could become weightless?
Today, we're announcing $10 million in funding led by Sequoia Capital. We’re thrilled to welcome Bryan Schreier and Lauren Reeder as partners on this journey, representing Sequoia on our board. We are using this capital to become the AI operations partner for the world’s leading insurers.
The Opportunity
Insurers spend nearly $70 billion every year on business process outsourcers (BPOs) to handle back-office operations. Across financial services more broadly, that number approaches $400 billion annually: roughly the size of the entire enterprise software market today.
With the rise of the internet in the early 2000s, this work shifted from in-house teams to offshore outsourcing. With the rise of AI, we believe it will shift again from offshore to agentic AI.
Our Approach: From SOPs to AOPs
Every insurance operation runs on Standard Operating Procedures. These are detailed, complex instructions (often tens of pages long) representing hard-won institutional knowledge built over decades.
Pace transforms these SOPs into what we call Agent Operating Procedures (AOPs). Our AI agents use these natural language instructions, combined with industry-specific tooling, to handle operations work end-to-end: interpreting complex documents, communicating over email and phone, and writing back to systems of record via API or direct system interaction.
What that looks like in practice: A broker requests an endorsement to add a vehicle to a commercial auto policy. Our agent reads the request, pulls the existing policy, validates the change against underwriting guidelines, generates the endorsement documents, and sends them for signature—all without human intervention. Work that once took hours now takes minutes.
The Outcome
The shift is already happening. Pace agents have completed tens of thousands of tasks in production – nearly half of that volume in the last month alone. We’ve delivered this work with 1/100th the workforce that would traditionally be required by BPOs, while outperforming on accuracy, speed and scalability.
We're proud to partner with leading insurers across the industry: from carriers like Prudential, to specialty mutuals like The Mutual Group, to tech-forward brokers like Newfront.
What's Next
Delivering on this vision requires a rare combination: world-class AI engineering paired with deep industry expertise. Our team has built cutting-edge AI products for nearly a hundred million users and managed billions of dollars in back-office operations across the industry.
It's this combination of technical excellence and operational depth that shows up in the product we ship: out of the box AOPs to get started faster, multi-modal interaction handling tasks from emails to calls, deep integrations into industry systems, and agent memory to constantly improve like a human team.
The insurers we work with are already leaders – organizations with trusted histories, exceptional teams, and genuine commitment to their customers. Our role is to clear the path between vision and operations.
Faster product launches. More consistent customer experiences. Teams freed to do their highest-value work.
If we get this right, we magnify what our industry does best: protect people. Just better, faster, and at a greater scale than ever before.