Insurtech startup Outmarket raises $34.5 million

Outmarket, a startup building AI tools for insurance agencies and brokers, has raised $34.5 million in new funding. The round comes only months after the company's previous financing, signaling fast investor interest in its approach to automating paperwork-heavy insurance workflows.

The company's software targets time-consuming administrative tasks that insurance agents and brokers typically handle manually, using AI to speed up processing and reduce errors.

The quick succession of funding rounds suggests strong demand for AI-driven efficiency tools in the insurance sector, an industry often seen as slow to adopt new technology.