WithCoverage
AI-powered risk management platform replacing traditional commission-based insurance brokers.
- Founded
- 2023
- Headquarters
- New York, NY
- Latest Round
- Series B
- Est. Valuation
- ~$200M
Investment Thesis
WithCoverage is an AI-powered risk management platform that helps fast-growing businesses assess, purchase, and manage insurance through a flat-fee model. Founded by JD Ross, co-founder of Opendoor, and Max Brenner, the company combines AI-driven analysis with in-house insurance specialists and legal professionals.
WithCoverage begins each client engagement with an AI-powered audit of existing insurance programs, analyzing policy language and operational data to identify coverage gaps, inefficiencies, and overspending. The platform then designs tailored risk strategies, manages competitive carrier processes, and oversees implementation. Over 700 companies have switched to WithCoverage, and the company plans to expand into construction and aerospace verticals.
CFOs and risk managers rely on outdated spreadsheets, fragmented broker communications, and annual policy reviews to manage insurance portfolios worth millions, leaving companies exposed to coverage gaps and overpaying for redundant policies.
WithCoverage builds an AI-powered risk management platform that continuously analyzes a company's evolving risk profile, identifies coverage gaps, optimizes policy structures, and automates the renewal process — giving CFOs real-time visibility into their total cost of risk.
Commercial insurance is a $800B+ market dominated by manual processes and misaligned broker incentives; companies that adopt data-driven risk management consistently reduce total insurance spend by 15-25%.
Climate volatility, cyber threats, and regulatory changes are making risk landscapes more complex than ever, while AI can finally parse dense policy language and model tail risks that human analysts struggle to quantify.