Qumis
- Company typePrivate
- Founded2022
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
Qumis firmographics
Firmographics- Name
- Qumis
- Legal name
- Qumis Inc.
- Website
- https://qumis.ai
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Qumis industry classification
Industry- Product category
- Insurance Technology Software (InsurTech)
- NAICS
- Insurance Agencies and Brokerages (524210), Insurance Carriers (5241), Agencies, Brokerages, and Other Insurance Related Activities (5242)
- SIC
- Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Enterprise AI Governance, Risk & Compliance Platforms (Model Risk, Audit, Policies) (HDAEANAE)
Keywords
Where Qumis is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Qumis business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- SaaS subscription: SaaS platform delivered to insurance brokers, underwriters, claims professionals, and coverage-focused law firms; "Try for Free" self-serve tier plus demo-based enterprise sales indicate recurring SaaS contracts.
- Freemium / free trial: Self-serve "Try for Free" entry point on the company website enables product-led adoption that can convert into paid tiers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Pay-as-you-go | Free trial / self-serve tier via app.prod.qumis.ai |
| Other | Multi-year contract | Enterprise / quote-based tier via "Book a Demo" |
Go-to-market motion3 records
Distribution channels2 records
Marketing channels5 records
Qumis product offering
Product offeringCore offering
Qumis provides an attorney-trained AI coverage intelligence platform for commercial insurance that ingests complex policy and claims documents and produces citation-backed coverage analysis, comparisons, summaries, compliance checks, document Q&A, and structured spreadsheet outputs. It is sold primarily to enterprise insurance brokers, claims professionals, risk teams, and coverage-focused law firms as a SaaS subscription with a self-serve free trial.
Product overview
Qumis is a single AI coverage intelligence platform for commercial insurance, with a core "Qumis Platform" backed by a set of named modules — Compare, Summarize, Evaluate, Ask, Populate, Verify, Vault, and Prompts — that operate together on stored insurance policies to deliver legal-grade analysis and proprietary market intelligence. The Vault module stores policies securely so the other modules (Compare, Summarize, Evaluate, Ask, Populate, Verify) can analyze them once and reuse that analysis across brokers, claims, and risk professionals; Prompts standardizes the underlying analysis workflows.
Differentiator
Problem solved
Functional benefit
Products and services
- Qumis Platform Attorney-trained AI coverage intelligence platform for commercial insurance that delivers legal-grade analysis and proprietary market intelligence for insurance brokers, claims professionals, risk teams, and coverage-focused law firms. Sold as a SaaS subscription with self-serve free trial and enterprise demo-based contracts.
Quantifiable outcome
- Eliminates the need for an additional hire on policy review (Kapnick Insurance testimonial).
- +3 more outcomes
Companies that use Qumis
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles4 records
Qumis technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature10 records
Qumis partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- NFP, an Aon companyflagship commercial partnerQumis announced a formal partnership with NFP to innovate its risk and policy analysis using legal-grade AI. NFP is also publicly named as a customer adopting Qumis for commercial insurance coverage analysis among large brokers and carriers.
Scale indicators8 records
Recent moves6 records
Expansion highlights6 records
Qumis competitors and assessment
Company assessmentDirect peers
- Evisort: AI-powered contract analysis and management platform. Directly comparable to Qumis as a domain-specialized AI for analyzing complex legal/policy documents with structured insights, serving enterprise legal and procurement teams.
- Ironclad: AI-driven contract lifecycle management platform. Comparable to Qumis in applying AI to legal document review, with workflow automation and enterprise sales motion targeting in-house legal teams at large enterprises.
- Luminance: AI platform for legal document review and contract analysis used by enterprises and law firms. Comparable to Qumis as a specialized AI for legal/policy text interpretation with citation-backed reasoning.
Emerging players
- Spellbook: AI legal assistant for lawyers drafting and reviewing contracts. Comparable to Qumis in applying GPT-based AI to legal document work, focused on attorney productivity; less insurance-specific but overlaps on legal-domain AI.
- LawGeex: AI contract review automation platform. Comparable to Qumis in automating legal document review with a specialized NLP model; less insurance-vertical focus but overlapping on legal-review automation.
- Cape Analytics: AI platform applying computer vision and data analytics to property risk for insurance carriers. Comparable to Qumis as a vertical AI serving insurance with proprietary data and analytics; overlapping on AI-for-insurance but different sub-vertical.
Broad incumbents
- Harvey AI: Domain-specific AI assistant for elite law firms. Comparable to Qumis in delivering legal-grade AI to law firms and professional services; broader in scope (general legal work) but overlapping customer profile.
- Onit (ContractPodAi): Enterprise legaltech platform with AI contract analysis capabilities. Comparable to Qumis in applying AI to legal document workflows, though broader in product scope and serving larger enterprise legal departments.
- Shift Technology: AI-native SaaS for insurance fraud detection, claims automation, and underwriting. Comparable to Qumis as an AI vendor serving insurance carriers and brokers with proprietary models and decision-support workflows.
Regional players
- Insurify: AI-powered insurance comparison and underwriting platform. Comparable to Qumis as an AI-first insurance technology company; overlapping customer ecosystem (brokers, carriers) but focused on consumer/commercial comparison rather than policy coverage analysis.
Market position
Strengths5 records
Weaknesses2 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Qumis social profiles
Digital presenceQumis compliance and trust
Trust signalCompliance1 record
Qumis financial estimates
Financial estimateRevenue estimate
Valuation estimate
Qumis leadership team
Management profileNumber of profiles
Profiles2 records
Qumis funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Qumis M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Qumis
What does Qumis do?
Qumis provides an attorney-trained AI coverage intelligence platform for commercial insurance that ingests complex policy and claims documents and produces citation-backed coverage analysis, comparisons, summaries, compliance checks, document Q&A, and structured spreadsheet outputs. It is sold primarily to enterprise insurance brokers, claims professionals, risk teams, and coverage-focused law firms as a SaaS subscription with a self-serve free trial.
Is Qumis a public or private company?
Qumis is a private company. It is classified as venture growth investor backed and is currently operating.
When was Qumis founded?
Qumis was founded in 2022. It employs 11 to 50 people.
Where is Qumis based?
Qumis is headquartered in Chicago, United States, in the North America region.
How does Qumis make money?
Two revenue lines are on record. SaaS subscription is the primary driver. The others are freemium / free trial.
Who are Qumis's main competitors?
Direct peers on record are Evisort, Ironclad and Luminance. Emerging players are Spellbook, LawGeex and Cape Analytics. Broad incumbents are Harvey AI, Onit (ContractPodAi) and Shift Technology. Insurify is listed as a regional player.
Does Qumis have an API?
No public API is recorded for Qumis.
What industry is Qumis in?
Qumis's product category is Insurance Technology Software (InsurTech). Its primary akta.pro industry code is HDAEANAE, Enterprise AI Governance, Risk & Compliance Platforms (Model Risk, Audit, Policies). Its NAICS code is 524210 and its SIC code is 6411.