Corgi Raises $108M And Secures Regulatory Approval To Launch AI-Native Insurance Carrier For Startups
Corgi has raised $108 million and received regulatory approval to operate as a licensed, full-stack insurance carrier built for startups. The company will handle underwriting, policy administration, and claims end to end, pairing carrier authority with AI-driven systems to speed quoting and adapt coverage as clients grow.
The financing includes a new Series A and an earlier seed round. Investors include Y Combinator, Kindred Ventures, Contrary, Oliver Jung, Glade Brook Capital Partners, Seven Stars, Leblon Capital (Andrej Henkler, Fadwa Ouardani), Fellows Fund, Alumni Ventures, Quadri Ventures, Vocal Ventures, Phosphor Capital, and SV Angel, among others.
Funds will be used to expand coverage and distribution and continue building AI systems that automate core insurance functions across the policy lifecycle. Corgi is led by co-founders Emily Yuan and Nico Laqua, with Laqua as CEO.
Why this matters for insurance professionals
As a licensed carrier-not an MGA-Corgi can own pricing, policy issuance, and claims while iterating on product with fewer handoffs. The model challenges broker-heavy, manual workflows and annual cycles that don't always match the pace or risk volatility of venture-backed clients.
The pitch is straightforward: faster quoting, competitive pricing, and policy terms that adjust as exposures change. For carriers and brokers serving tech accounts, expect pressure on response times, midterm changes, and digital claims experiences.
Product suite focused on high-growth risks
- Directors & Officers (D&O)
- Errors & Omissions (E&O)
- Cyber
- Commercial General Liability (CGL)
- Hired & Non-Owned Auto (HNOA)
- Fiduciary Liability
- AI Liability
Early traction
Corgi reports annual recurring revenue above $40 million since receiving full regulatory approval in July 2025. The company says growth is being driven by demand from venture-backed and high-growth businesses.
Operational implications
- Underwriting: Expect more granular, continuous risk assessment to reflect fast-changing exposures.
- Policy management: More midterm adjustments and endorsements as companies scale or pivot.
- Distribution: Direct and partner-led channels competing on speed and clarity of terms.
- Claims: Greater automation and triage to cut cycle times while maintaining accuracy.
- Governance: Carrier status raises the bar for model oversight, rate/rule filings, and audit trails.
Key quotes
"Startups move fast, and so should their insurance. Founders shouldn't have to choose between speed, coverage quality and price. We built Corgi to deliver all three in one place, so startups can get covered quickly and focus on building. This capital helps us expand coverage and keep improving the product." - Nico Laqua, Co-Founder and CEO, Corgi
"True innovation in insurance requires a special combination of actuarial science, AI-driven systems, and a fundamental rethinking of policy management. Corgi brings rare tenacity and technical focus to one of the hardest challenges in financial services by launching a new carrier to transform insurance, starting with technology companies." - Kanyi Maqubela, General Partner, Kindred Ventures
What to watch next
- How AI is applied across underwriting, pricing, and claims-and how results are validated.
- The balance between direct and broker-led distribution for complex placements.
- Definitions, triggers, and exclusions in AI liability wordings as case law and standards evolve.
- Speed-to-bind and change-request turnaround compared to incumbent carriers.
For context on U.S. carrier authorization and state-based regulation, see the NAIC overview.
If your team is upskilling on AI for underwriting, claims, or operations, explore role-based training at Complete AI Training.
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