Company research
Fetched yesterday
i23 is building an AI-native commercial insurance brokerage that uses software agents to handle routine broker administration while helping human brokers serve clients and grow revenue.
- Founders
- Bim Afolami · co-founder and presidentHe served as economic secretary to the Treasury from 2023 to 2024 under Rishi Sunak.
- Anand Sambasivan · co-founder and chief executiveHe co-founded PrimaryBid, a platform that gives retail investors access to public-company fundraisings.
- Mike Coombes · co-founderHe was the former chief operating officer of PrimaryBid.
- Salman Valibeik · co-founderHe co-founded Opriva, described as a marketing startup.
- Bim Afolami · co-founder and president
- Total raised
- £4.9m · as its sources put it, more than the rounds on record
WHY IT MATTERS
Commercial insurance broking is a large, fragmented, admin-heavy market—reported at nearly $700bn globally and up to £22bn in the UK—so automating routine work could let brokers grow without adding back-office headcount. Its £4.9m oversubscribed seed round funds a different go-to-market bet than selling standalone software: acquire an existing broker, deploy agents on real workflows, and test whether human advice and automation can scale together.
Checked against 8 sources yesterday