What illumend does

illumend is an AI-native SaaS platform launched in 2025 by myCOI (MY COI, LLC, an Indiana LLC) that automates third-party insurance compliance, certificate of insurance (COI) tracking, and vendor risk management. The platform is powered by Lumie, a proprietary conversational AI engine trained on 16 years of myCOI's insurance compliance expertise and a corpus of 45M+ insurance documents. Lumie reads COIs and endorsements line-by-line — checking additional insureds, waivers of subrogation, primary/non-contributory clauses, and per-project aggregates against contractual requirements — and makes compliance decisions independently, routing only exceptions to human reviewers. The platform automates the full workflow from requirement delivery to partners, through document review, to renewal management.

illumend serves enterprise and mid-market organizations across seven verticals with productized solutions: Construction, Commercial Real Estate, Retail, Utilities, Government, Manufacturing, and Transportation. Disclosed customers include Priority Logistics Group, Sleiman & Son Investment, Torani, OneRail, NDC, Windfree Mechanical, and Andrews Consulting. The company operates with a hybrid go-to-market: direct enterprise field sales (Schedule Demo CTAs and industry-specific landing pages), product-led self-serve evaluation tools (COI Reality Scorecard, ROI Calculator), an Insurance Broker Referral Partner Program launched March 2026, and a Procore integration for the construction vertical. Revenue comes from SaaS subscriptions via custom Order Forms with annual terms and monthly billing, supplemented by onboarding professional services. The legal entity (MY COI, LLC) is headquartered at 8520 Allison Pointe Blvd in Indianapolis, Indiana.

The company has no external institutional funding disclosed, no headcount data, and no public revenue figures. It received a Silver Globee Award and Best of Category recognition in May 2026 for AI-Native Transformation of a Legacy Product, validating its market positioning. The platform competes in the broader third-party risk management (TPRM) and COI tracking space, positioning against both manual in-house processes and traditional outsourced managed services.

Name

illumend

Legal name

MY COI, LLC

Website

https://illumend.ai

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

illumend is an AI-native SaaS platform launched in 2025 by myCOI that automates third-party insurance compliance and COI tracking using its proprietary Lumie AI engine. It serves enterprise and mid-market organizations across construction, real estate, retail, utilities, government, manufacturing, and transportation verticals.

Ownership category

akta.pro rank

Product category

Insurance Compliance Software

NAICS

Computer Systems Design Services (541512)

SIC

Services-Prepackaged Software (7372), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Responsible AI, Security & Privacy Platforms (Safety, Guardrails, PII) (HDAEANAG)

akta.pro secondary industry

Digital Experience Monitoring & Management (DEX/DEM, AIOps for EUC) (BPAEAIAF)

Keywords

• Insurance compliance software
• Certificate of insurance tracking
• Third-party risk management
• Vendor compliance automation
• COI management platform

Headquarters

HQ city

Indianapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Subscription: Software-as-a-Service subscription model with annual renewal terms. Customers pay subscription fees for access to the illumend platform. The Terms of Service reference Order Forms with subscription terms, fees due monthly, and automatic renewal provisions.
2. Professional Services (Onboarding): Terms of Service indicate the company provides onboarding support: 'a team of experts who help you audit your existing workflow and insurance requirements to set up your illumend account for success.' Setup and configuration services likely included in or separate from subscription.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

illumend provides an AI-native SaaS platform that automates third-party insurance compliance and Certificate of Insurance (COI) tracking for businesses. Powered by its Lumie conversational AI engine, the platform reviews incoming COIs and endorsements, evaluates coverage against contract or lease requirements, makes compliance decisions automatically, and proactively manages renewals. It is offered with industry-specific configurations for construction, commercial real estate, retail, utilities, government, manufacturing, and transportation organizations.

Product overview

illumend is an AI-native insurance compliance platform consisting of the core illumend Platform powered by Lumie AI engine, with industry-specific solutions for Construction, Commercial Real Estate, Retail, Utilities, Government, Manufacturing, and Transportation. The platform automates the full COI compliance lifecycle including requirement delivery to partners, document review, compliance decision-making, and renewal management. Additional offerings include the COI Reality Scorecard assessment tool, ROI Calculator, and an Insurance Broker Referral Partner Program for distribution partners.

Differentiator

Problem solved

Functional benefit

Brands

• Lumie: AI engine inside illumend that reviews incoming certificates and endorsements, checks coverage against contract or lease requirements, flags gaps before they turn into claims, and keeps renewals moving automatically.

Products and services

• illumend Platform AI-native SaaS platform that automates Certificate of Insurance (COI) tracking, review, and compliance decision-making for third-party risk management. It evaluates COI documentation against organizational requirements, determines compliance status, and automates workflows from document submission through final approval and renewal.
• Lumie Conversational AI engine embedded within illumend that reviews incoming certificates and endorsements, checks coverage against contract or lease requirements, flags coverage gaps, makes compliance decisions, and converses with users and third-party partners in plain language.
• illumend for Construction Industry-specific configuration of the illumend platform tailored for construction companies to manage COI compliance for general contractors, subcontractors, trade contractors, and vendors across construction projects.
• illumend for Commercial Real Estate Industry-specific configuration of illumend for property managers, real estate developers, and commercial building owners to verify insurance coverage for tenants, service providers, and contractors.
• illumend for Retail Industry-specific configuration of illumend for retail chains and franchise organizations managing insurance compliance across multiple locations, vendors, and franchise partners.
• illumend for Utilities Industry-specific configuration of illumend for utility companies managing insurance requirements for contractors working on infrastructure, maintenance, and service operations.
• illumend for Government Industry-specific configuration of illumend for government agencies and public-sector organizations to verify insurance coverage for contractors and vendors with audit-defensible decision trails.
• illumend for Manufacturing Industry-specific configuration of illumend for manufacturing companies managing insurance compliance across suppliers, contractors, and logistics partners.
• illumend for Transportation Industry-specific configuration of illumend for transportation and logistics companies managing insurance compliance for carriers, drivers, and service providers.
• Insurance Broker Referral Partner Program Channel partner program enabling insurance brokers to deliver illumend's AI-driven COI tracking and compliance platform to their clients, positioning brokers as strategic risk advisors and driving smarter insurance renewals.

Quantifiable outcome

• 4x faster COI management
• +4 more outcomes

Named customers8 records

Segments11 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability5 records

Feature7 records

Partnerships

Three partnerships are on record, tiered core.

• Insurance Brokers (via Referral Partner Program)coreChannel Partner/ Reseller/ Distributor · 11 March 2026Insurance Broker Referral Partner Program launched March 2026 enables brokers to refer clients to illumend's AI-driven platform. The program provides brokers with tools to help clients manage certificates of insurance and policy endorsements while strengthening the broker's role as strategic risk advisors. Targets the knowledge gap where 90% of small business owners lack confidence in their insurance coverage.
• myCOIcoreStrategic or Co-development PartnermyCOI is the parent company and strategic creator of illumend. Founded in 2025 and backed by myCOI's 16 years of insurance compliance expertise. MY COI, LLC develops, markets, and licenses the illumend platform. illumend is described as 'the AI-native platform from myCOI, built on 16 years of compliance expertise and now powered by AI.'
• ProcorecoreTechnology or IntegrationIntegration with Procore construction management platform enables seamless COI compliance management within Procore workflows. Listed as a key integration on the illumend website with dedicated landing page at /integrations and /integrations/procore.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• COI Pro: Dedicated certificate of insurance tracking and compliance management SaaS serving property management, construction, and commercial real estate. Closely comparable in product scope (COI compliance) and target verticals to illumend.
• Bunker: Insurance and compliance verification platform purpose-built for the construction industry, automating subcontractor insurance and license verification. Highly comparable in both AI-native architecture and construction vertical focus.
• Jones: Certificate of insurance and vendor compliance management platform for commercial real estate, property management, and facility management. Competes head-on with illumend in the CRE vertical on COI tracking and tenant/vendor compliance.

Broad incumbents

• Vertafore: Large insurance industry software provider serving carriers, agencies, and brokers. Provides workflow and document automation tools that touch the same insurance compliance ecosystem, though from the broker/carrier side rather than the insured.
• myCOI: Parent company of illumend and the prior-generation COI tracking platform from which illumend is spun out. Operates the same core use case (third-party COI tracking and compliance) but via traditional managed services rather than an AI-native architecture, making it the most direct functional peer and predecessor offering.
• Procore: Dominant construction management platform that contains compliance-related features (insurance tracking, contractor management) and is also an integration partner for illumend. Represents both a channel and a potential competitive threat if it deepens native compliance functionality.
• ProcessUnity: Enterprise third-party risk and cybersecurity risk management platform. Competes for the same TPRM budget that often includes COI tracking; represents a 'platform consolidation' risk to a point solution like illumend.
• Venminder: Third-party risk management platform covering vendor onboarding, due diligence, and ongoing monitoring across industries. Provides broader TPRM workflow context where COI compliance is one component, competing for the same buyer (compliance/risk leadership).
• Origami Risk: Risk, insurance, and claims management platform used by insurance brokers, carriers, and risk managers. Overlaps with illumend in the insurance compliance workflow but at a broader risk-management portfolio level.

Emerging players

• Document Crunch: AI-powered document intelligence platform for the construction industry that automates review of contracts and project documents. Comparable in applying AI-native document review to construction workflows, with adjacent rather than direct overlap on insurance compliance.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/illumend

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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 illumend