Why Grand Ventures Invested in Qumis: Top 3 Reasons Driving Our Decision
By: James Hill
At Grand Ventures, we pride ourselves on identifying and investing in innovative companies at pivotal growth moments in fintech, supply chain, devops, and digital health. Our latest investment in Qumis is no exception. Qumis is redefining workflows in the insurance industry by automating manual tasks for brokers and carriers. Below, are the top three reasons why we believe Qumis.ai is a game-changing investment opportunity, and why we’re excited to be joining the Board as an Observer in the early stages of the Company’s growth.
1. Proven Traction with Insurance Brokers
Qumis’ rapid traction with insurance brokers is one of the most compelling reasons for our investment. The company worked closely with prospective customers to develop the existing platform, and they’ve turned multiple paid pilots into long-term contracts.
After conducting customer calls, we understood this kind of success signals strong market demand and high product relevance. Qumis effectively demonstrated their ability to deliver value, creating a solid foundation for further scaling the product and giving their customers a faster and more efficient understanding of complex insurance policies.
2. Experienced Team with First Hand Knowledge Working in Insurtech
Dan and Shiv (founders of Qumis) have deep experience in the legal, fintech, and insurance industry. Dan was formerly a lawyer who represented insurance companies in complex civil litigation and most recently was the Assistant General Counsel for Kin Insurance. Dan’s prior expertise and background working for insurance companies and helping develop the workflow as an operator within an insurance company helped him fine tune the process and models for better understanding hundred-page contracts, quotes, and claims.
Shiv joined Qumis on the developer side of the business and has experience creating financial products in both complex and regulated financial systems. Previously, Shiv worked as a developer at Goldman Sachs, where he was instrumental in building out marcus.com (direct-to-consumer bank for Goldman Sachs). After, he worked for a series of startups before a mutual connection put Dan and Shiv in touch, and they began to build the early version of the tool to analyze complex policies.
3. Automation of Painful Manual Tasks with Broker-Centric Design
The insurance industry has long been plagued by inefficient, manual workflows that slow down processes and increase costs. The Qumis team experienced this firsthand and sought to develop a knowledge based tool that addresses this head-on by providing a platform that automates these painful tasks while delivering expert-level analysis. The tool relies on a combination of workflow processes, case law, machine learning, and LLM trained models to help answer questions, propose solutions, and better understand complex insurance problems.
What sets Qumis apart is its deep understanding of broker and carrier workflows. The platform integrates seamlessly into existing systems, respecting the natural workflows and user experiences of its target audience. This thoughtful design ensures higher adoption rates and long-term customer satisfaction.
By building robust “pipes” for automation and analysis, Qumis is not only solving today’s problems but also laying the groundwork for future innovation in insurance technology.
Looking Ahead
Investing in Qumis.ai aligns with Grand’s mission to support companies with transformative potential in their industries. Their traction, experienced team, and innovative approach to automation make Qumis a standout opportunity.
We’re excited to be part of their journey and look forward to seeing how they continue to revolutionize the insurance landscape.Congrats again to Dan, Shiv, and the entire Qumis team. If you are a founder building in this space please visit our website and let us hear from you!