Pace, an AI operations company focused on insurance workflows, has raised $46m in Series B funding as it accelerates the rollout of its agentic automation platform across global insurance markets.
The round was co-led by Thrive Capital and Sequoia Capital, with participation from Emergence Capital and Pruven Capital, as investors back the company’s ambition to scale AI-driven operational automation across the insurance value chain, according to InsurTech Insights.
Founded last year, Pace builds AI agents designed to automate insurance workflows spanning submissions, renewals, policy servicing and claims processing, positioning itself as an infrastructure layer for what it describes as an “agentic workforce” in insurance operations.
The company said its platform has already autonomously completed more than 250,000 insurance workflows, with clients including Prudential, Palomar, Convex and WTW using the technology across different parts of their operations.
Pace said the new capital will be used to expand its deployment across the US, Europe and additional international markets, with a focus on scaling to tens of millions of insurance operational tasks in 2026.
At Prudential, the platform is being used to automate thousands of hours of customer acquisition and policy servicing work. At Palomar, Pace said its AI agents resolve around 90% of policy servicing tasks without increasing customer service headcount, while Convex is using the system to speed up data ingestion for new business and renewals.
The company positions its AI agents as purpose-built for insurance environments, able to operate across structured and unstructured inputs including forms, emails, phone-based interactions, legacy systems and green-screen interfaces.
Pace said workflows are configured using natural language instructions referred to as “Agent Operating Procedures”, allowing insurers to define and refine processes without traditional coding approaches.
Jamie Cuffe, founder and chief executive of Pace, said the insurance sector’s operational inefficiencies contribute directly to the global protection gap.
“Sixty percent of the world’s losses last year went uninsured,” Cuffe said. “A meaningful share is operational – the demand exists and the underwriting works, but servicing costs exceed policy value. Closing the $9 trillion protection gap starts with AI-native operations.”
The funding highlights continued investor appetite for AI-native infrastructure companies targeting insurance, as carriers look to improve efficiency while integrating automation into existing legacy systems rather than replacing them entirely.
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