In the fast-paced world of commercial insurance, processing submissions has long been a cumbersome, days-long ordeal. Now, a New York City-based startup is aiming to change that narrative. Underflow Inc., founded by former investment banker and Faire executive Ola Kolade, has secured $2.75 million in seed funding to accelerate and automate a process that industry insiders consider one of the most persistent bottlenecks.

Led by Maple VC, the recent funding round underscores growing investor confidence in Underflow’s innovative approach. The company has developed an artificial intelligence system capable of reviewing and processing insurance submissions within hours rather than days, a breakthrough that promises to enhance efficiency for underwriters and brokers alike.

Kolade, who combines financial acumen with tech savvy, recognized that the commercial insurance market, especially in a complex urban center like New York City, was ripe for disruption. Underflow’s platform leverages advanced machine learning to analyze submissions, extract critical data, and flag potential risks swiftly, enabling insurers to make faster, more informed decisions.

NYC’s dense business environment, with its many commercial ventures requiring insurance coverage, presents an ideal proving ground for Underflow’s technology. Streamlining underwriting in such a competitive market not only benefits insurers but also supports local businesses by reducing wait times and uncertainties.

As the startup moves from seed stage toward scaling its operations, its success may signal a broader transformation in how traditional financial services adopt AI-driven solutions. With this infusion of capital and a clear vision, Underflow is positioned to become a key player in modernizing New York City’s commercial insurance landscape.