Bind AI launches insurance automation service after raising $10 million
Oct 14, 2026
AI Agents
i23 raises £4.9 million for AI insurance broker
Oct 29, 2026
The startup founded by former UK minister Bim Afolami and PrimaryBid cofounder Anand Sambasivan will automate routine administrative work for insurance brokers.
i23 raised £4.9 million in seed funding to build an AI insurance broker, tech.eu reports, citing Sky News, which first reported the round. Former UK economic secretary to the Treasury Bim Afolami founded the startup with PrimaryBid cofounder Anand Sambasivan.
Four Cities Capital jointly led the round. Outward VC, Seedcamp and Insiders Ventures also invested.
i23 is developing an AI operating model that will handle routine administrative work for insurance brokers. Former PrimaryBid chief operating officer Mike Coombes and Opriva cofounder Salman Valibeik are also part of the founding team.
The UK insurance broker market is worth up to £22 billion a year but remains highly fragmented, according to the report.
We hope you enjoyed this article
Consider subscribing to one of our newsletters like Finance AI Weekly, AI Funding Brief or Daily AI Brief.
Also, consider following us on social media:
More from Finance
Oct 28 Bloomberg Adds AI Coding Assistant to BQuant Oct 27 Bank of England Survey Finds 80% of UK Financial Firms Use AI Agents Oct 26 Nevis Raises €62 Million for AI Wealth Management Platform Oct 26 Itaú to Buy AI Startup NeoSpace for About $589 Million Oct 25 GSS and Storm Reply Launch Cloud Guardian for Sanctions PlatformMore from Funding
Oct 29 EdgeCore Raises $521 Million Against Silicon Valley Data Center Oct 29 Intel to Acquire Classiq for $2.3 Billion Oct 29 Freshworks Acquires Robusta Dev for AI Incident Analysis Oct 29 Bleu Robotics Raises €5 Million for Factory Humanoids Oct 29 FuriosaAI Raises $620 Million to Scale Inference Chip ProductionFree newsletter
Finance AI Weekly
Weekly newsletter about AI in finance. Covers AI-driven trading, fintech innovations, and data analytics transforming markets
Industry analysis
2025 Global Business Services Agenda: Gen AI Takes Center Stage
The Hackett Group
This industry analysis by The Hackett Group explores the transformative impact of generative artificial intelligence (Gen AI) on global business services (GBS) in 2025. The study highlights the shift from exploration to acceleration of Gen AI initiatives, with 89% of executives advancing these projects to improve customer satisfaction, innovate products, and reduce costs. The report also discusses the challenges and strategies for successful Gen AI adoption, emphasizing the need for a technology-enabled operating model and the importance of reskilling the workforce.
Read moreYou may also like
Police AI Startup 22one Valued at About $400 Million
Oct 27, 2026
Public Safety
RevRag AI Raises $2.5 Million for Financial Services Agents
Oct 14, 2026
Funding
Obsero raises €1 million for AI search visibility agents
Oct 14, 2026
Funding
EliseAI raises $350 million at $4 billion valuation
Sep 30, 2026
Funding
AI Agent Startup Nous Raises $17 Million
Oct 27, 2026
AI Agents
Free, six days a week
Daily AI Brief: the AI news that matters, in your inbox.