Ancep, a London-based InsurTech developing AI agents for commercial insurance brokers, has raised $8.5m to help brokers place smaller risks they would otherwise turn away, targeting revenue that currently goes uncollected.

The funding round was led by Creandum, with Kleiner Perkins and Vicus Ventures also participating. Angel investors included former Aon CFO Christa Davies and operators from OpenAI, Anthropic and Google DeepMind. Ancep will use the capital to support its growth and recruitment.

The company’s AI agents are already operating at ACIC Financial Advisory, one of Austria’s largest credit insurance brokers, as well as at a top 10 UK broker and within the specialty lines of a leading US broker. At one customer, the chief operating officer of a division reported a 10% revenue increase in the six weeks following deployment.

Ancep is targeting an overlooked part of the commercial insurance market, where brokers can spend almost as much time arranging a lower-value policy as they do placing a much larger one. With commission potential often too small to justify the administrative workload, brokers may decline these risks or leave them at the bottom of their queues.

The opportunity is becoming more significant as commercial insurance prices continue to fall. Global commercial insurance rates declined 6% in the second quarter of 2026, marking an eighth consecutive quarterly fall amid abundant capacity and excess capital.

Ancep estimates that up to 30% of the risks received by brokers fall below the threshold at which they can justify the work involved. It believes around half of these could still be placed profitably.

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