Novee AI

What Novee AI does

Novee AI provides an AI intelligence layer for commercial and specialty insurance underwriting. It acts as an AI assistant designed around how underwriters work, wrapping around existing systems and processes to deliver actionable risk insights and automate repetitive tasks. The platform aims to accelerate decision-making, improve underwriting productivity, and optimize portfolio performance by transforming unstructured submissions into structured data and providing deep analytical capabilities.

Products

• ExtractTurns submissions of any format into structured data ready for downstream processing, working across slips, SOVs, loss runs, engineering reports, and surveys.
• AnalyseInterprets and evaluates risk quality, appetite, and guidelines at submission and location level, assessing material facts, engineering reports, and wordings.
• CompareDetects material changes across contracts, generating concise summaries with in-context highlighting, comparing quote vs. firm order slips, expiring vs. renewal slips, and schedules/engineering reports.
• AutomateExecutes repetitive underwriting workflows dynamically based on risk context, guided by confidence scores, including submission set-up, aggregation checks, and data entry into CAT and pricing models.

Key capabilities

• Underwriter-first AI assistant
• AI intelligence layer for underwriting
• Transforms unstructured submissions into structured data
• Actionable risk insights
• Automates repetitive underwriting tasks
• Submission-level data extraction
• Location-level information extraction (site name, address, TIVs, geocoded)
• Technology-level information extraction (type, OEM, model, MFL, power output)
• Loss-level information extraction (description, year, date, net incurred PD & BI)
• Handles complex, varied submissions
• Works across all document types (slips, schedules, attachments)
• Fully traceable data back to source
• Seamless API integration into downstream systems
• Assesses risk quality, appetite, and guidelines
• Submission triage
• Evaluates plant data, risk controls, and survey findings
• Reviews exclusions, subjectivities, and non-standard clauses
• Natural language configuration
• Deep insights with context and explanation
• Cross-functional insights at asset and location level
• Industry-tailored interfaces
• Detects and explains material changes across contracts
• Highlights key differences directly in document viewer with clickable citations
• Compares quote vs. firm order slips
• Compares expiring vs. renewal slips
• Checks required clauses and flags gaps
• Compares schedule and engineering reports
• Focuses on material changes affecting coverage and exposure
• Ignores formatting or cosmetic edits
• Clear summaries with side-by-side viewer
• Full audit trail of changes
• Agentic workflow automation with built-in trust signals
• Dynamic, context-aware task execution
• High-level instructions instead of strict business rules
• Confidence scores and reconciliation checks for outputs
• Automated submission set-up
• Automated aggregation checks
• Automated data entry into CAT model systems
• Automated data entry into pricing systems
• Existing system integrations
• Context-aware execution
• Simple instructions
• ISO 27001 certified
• Full data traceability

Use cases

• Accelerating decision-making in underwriting
• Reducing quote-to-bind time
• Improving hit ratios
• Strengthening broker engagement
• Automating underwriting tasks
• Freeing underwriters to focus on broker relationships and judgment-based decisions
• Improving risk selection and pricing
• Optimizing risk-adjusted returns
• Transforming submissions into structured data for downstream processing
• Assessing risk quality, appetite, and guidelines
• Detecting material changes across contracts
• Automating underwriting workflows
• Prioritizing submissions based on risk appetite and guidelines
• Analyzing COPE data, exposures, limits, and deductibles
• Evaluating engineering reports for strengths and deficiencies
• Reviewing wordings for potential coverage gaps
• Comparing different versions of slips and contracts
• Performing aggregation checks
• Populating key details and routing submissions
• Entering validated data into CAT tools and pricing templates

AI approach

Novee AI provides an AI intelligence layer for underwriting in commercial and specialty insurance. It acts as an AI assistant that wraps around existing systems to deliver actionable risk insights and automate tasks. The platform extracts structured data from various submission formats, interprets and evaluates risk quality, detects material changes in contracts, and automates repetitive underwriting workflows. It uses agentic AI to cut through dense technical information, distill key insights, and highlight material exposures. The AI agents act on high-level instructions and provide confidence scores and reconciliation checks for auditability.

Tech named: AI intelligence layer, AI assistant, agentic AI, AI agents

Industries served

• Commercial Insurance
• Specialty Insurance
• Power & Utilities Insurance
• Upstream Energy Insurance
• Downstream Energy Insurance
• Marine Cargo Insurance
• Political Violence & Terrorism (PV&T) Insurance

What it says sets it apart

• Underwriter-first design
• AI intelligence layer that wraps around existing systems
• Purpose-built for the unique complexity of commercial and specialty insurance
• Adapts to real-world complexity rather than trying to simplify it
• Integrates seamlessly into existing tools and workflows
• Delivers automation that feels natural, not forced
• Insurance experts who can build AI software
• Focuses on material changes, ignoring cosmetic edits
• Agentic workflow automation with built-in trust signals and confidence scores
• ISO 27001 certified for enterprise-grade security
• Full data traceability and auditability

Funding rounds we track

From the AI funding tracker — rounds as reported by the linked publications.