What Novee AI does

Novee AI Limited is a London-based, pre-seed stage software company that builds an AI intelligence layer for commercial and specialty insurance underwriting. The platform processes unstructured submission packs, including slips, schedules of values, loss runs, engineering reports, and surveys, and applies large language models combined with agentic AI workflows to extract structured data, evaluate risk quality against underwriting appetite, detect material changes across contracts, and automate downstream tasks such as CAT model data entry and aggregation checks. The system is purpose-built for the London Market and Lloyd's specialty insurance ecosystem with class-specific interfaces for Political Violence & Terrorism, Property, and Power & Renewables, and a public roadmap extending into Upstream Energy, Downstream Energy, and Marine Cargo.

The platform is organized into five modules — Extract, Analyse, Compare, Automate, and Report (coming soon) — and integrates natively into Microsoft Outlook so underwriters can invoke AI capabilities inside existing email workflows, with API connectivity for pushing validated, geocoded schedule data into CAT modeling and pricing systems. The company is ISO 27001 certified and compliant with GDPR, CCPA, and APPI, satisfying enterprise insurance procurement requirements.

Novee sells through a consultative direct enterprise sales motion with no public pricing and annual subscriptions tailored to deployment scope. Named customers include Lancashire Insurance Group (signed Power & Renewables deal in November 2025), Atrium Underwriters (extended PV&T trial), and Volt Underwriting. The company raised £1.6M in August 2025 pre-seed funding led by 42CAP with participation from Insurtech Gateway, is led by a seven-person founding team with prior experience at Deloitte, Tractable, Faculty AI, Amazon, and Cambridge, and operates from its headquarters at 85 Great Portland Street, London.

Name

Novee AI

Legal name

Novee AI Limited

Website

https://novee.ai

Company type

Private

Founded year

2024

Operating status

Operating

Headcount range

1–10 employees

Short description

Novee AI is a London-based pre-seed software company that builds an AI intelligence layer for commercial and specialty insurance underwriting, using LLMs and agentic AI to automate submission triage, risk analysis, and workflow tasks for Lloyd's market and specialty carriers.

Ownership category

akta.pro rank

Product category

Insurance Underwriting Software

NAICS

Software Publishers (513210), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Responsible AI, AI Governance & Compliance Services (BPAEAHAJ)

akta.pro secondary industry

Model Governance, Risk & Compliance (GRC) Platforms (HDAAAKAA)

Keywords

• AI underwriting platform
• Insurance intelligence layer
• Commercial specialty insurance
• Agentic AI underwriting
• Submission automation software

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations

Revenue model

1. SaaS Platform Subscription: AI-powered underwriting intelligence platform sold as a SaaS subscription to commercial and specialty insurance carriers. The platform's Extract, Analyse, Compare, and Automate capabilities are offered as an integrated suite, with Report capability coming soon. Pricing is likely enterprise-tier based on deployment scope and class of business.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Novee AI provides an AI intelligence layer for commercial and specialty insurance underwriting. Its platform extracts structured data from unstructured submissions, analyzes risk quality and appetite, compares contract changes, and automates underwriting workflows using agentic AI that integrates with existing tools such as Microsoft Outlook. It is purpose-built for Lloyd's market and London Market carriers across lines including Political Violence & Terrorism, Property, and Power & Renewables.

Differentiator

Problem solved

Functional benefit

Products and services

• Novee Platform AI assistant designed around how underwriters work, wrapping around existing systems to deliver actionable risk insights and automate submission workflows for commercial and specialty insurance carriers.
• Political Violence & Terrorism Line Specialty insurance class covering War, SRCC and S&T exposures, with automated aggregation checks and appetite flagging for PV&T submissions.
• Property Line Property insurance covering commercial property risks with automated aggregation checks, schedule cleansing, and risk quality assessment for high-volume submissions.
• Power & Renewables Line Specialty insurance covering complex energy risks including Power & Utilities, Upstream Energy, Downstream Energy, and Marine Cargo lines, processing engineering-heavy submissions with asset-level analysis.

Quantifiable outcome

• Cut through hundreds of pages of dense technical information, distilling key insights and highlighting material exposures
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability8 records

Feature5 records

Partnerships

One partnership is on record.

• Microsoft OutlookcoreTechnology or IntegrationNovee integrates directly into Microsoft Outlook to meet underwriters where their work is done, embedding the AI intelligence layer within the existing email workflow that insurance professionals use daily.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cytora: Cytora builds AI-powered commercial insurance underwriting workflows that digitise submission intake and risk evaluation, directly competing with Novee's Extract and Analyse modules across commercial lines.
• Planck: Planck provides an AI data platform for commercial insurance underwriting, automating ingestion of unstructured business information into structured risk insights — highly comparable to Novee's submission-level extraction and analysis capabilities.
• Chisel AI: Chisel AI offers AI solutions for commercial insurance underwriting and broker workflows, including submission triage and policy comparison — overlapping directly with Novee's Compare and Extract modules.
• Akur8: Akur8 provides AI-driven insurance pricing and underwriting automation for P&C carriers, complementing but also competing with Novee's downstream pricing-model data preparation capabilities.
• Hyperexponential: Hyperexponential provides AI-powered pricing decision intelligence for specialty and commercial insurers, addressing the downstream pricing workflow that Novee's submission cleansing and CAT-model data prep feeds into.

Emerging players

• Sprout.ai: Sprout.ai applies GenAI to insurance claims automation; while more focused on claims than underwriting, it shares the same agentic AI / LLM stack and London Market customer base, making it a comparable insurtech peer.
• Roots Automation: Roots Automation builds AI digital workers for insurance operations including underwriting support, competing in the same agentic AI automation niche for commercial and specialty carriers.
• Underwrite.ai: Underwrite.ai applies machine learning to commercial underwriting risk scoring and pricing; an adjacent insurtech peer using AI to automate commercial underwriting decisions.

Broad incumbents

• Guidewire: Guidewire is the dominant insurance core systems vendor (PolicyCenter, ClaimCenter), increasingly embedding GenAI capabilities into its platform — a broad incumbent that could either partner with or compete against Novee at the carrier level.
• Microsoft Copilot for Insurance: Microsoft's broader Copilot/Outlook AI strategy positions it as a broad incumbent platform that could natively offer underwriting-adjacent capabilities to carriers, with Novee currently sitting on top of Outlook as an integration layer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/noveeai

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novee AI