CHICAGO, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Qumis, the only attorney-trained AI platform for commercial insurance coverage intelligence, today announced a $4.3 million oversubscribed seed round led by MTech Capital, with new strategic investor American Family Ventures and participation from all prior investors. Total funding reaches $6.75 million.

The funding comes as AI investment in insurance accelerates, but most capital is flowing to workflow automation and document processing. Qumis is building something different: attorney-trained AI that combines coverage expertise with market intelligence, giving every broker, underwriter, and claims professional capabilities that previously required both outside counsel and a data operations team.

"The gold standard for coverage analysis has always been a skilled coverage attorney, but you can't put one on every account," said Dan Schuleman, Esq., co-founder and CEO of Qumis. "Qumis changes that. Our platform delivers coverage-expert-level analysis at scale, with the citations and reasoning to back it up. And because it's AI-native, we can combine that expertise with the kind of market intelligence that large brokers typically need entire data operations teams to produce."

How Qumis Works

Qumis is powered by the most sophisticated coverage intelligence engine ever built for commercial insurance. While other tools treat policies as documents to search, Qumis reads them the way a seasoned coverage attorney does — understanding how exclusions carve back coverage, how endorsements modify terms, and how definitions ripple across hundreds of pages of interrelated language.

The platform combines proprietary document processing (handling even the worst scanned manuscripts) with multi-stage legal reasoning trained on thousands of real-world coverage analyses. Every output includes source-linked citations, transparent reasoning chains, and confidence signals — so users can trust the answer and verify it when they need to. And by analyzing patterns across policies and markets, Qumis surfaces insights that go beyond what any single attorney or analyst could see.

Because Qumis captures and builds on each firm's prior analysis in a secure, private environment, the platform's intelligence compounds over time for that organization, surfacing patterns, benchmarks, and institutional knowledge that would otherwise live only in the minds of senior team members.

Insurance professionals use Qumis to:

• Analyze complex policy towers and identify coverage gaps before they become problems
• Compare quotes, binders, and endorsements across markets with structured, side-by-side intelligence
• Support claims coverage positions with consistent, expert-quality reasoning
• Surface market trends and coverage patterns across their book of business
• Centralize institutional knowledge in a secure, private document vault
  

Traction and Market Validation

Qumis' growth has been driven by adoption among large brokers and carriers, including NFP, an Aon company, which has expanded usage organically from an initial team to hundreds of users across the organization.

"Since rolling out Qumis, our teams are spending less time wrestling with policy language and more time advising clients," said Mark J. Rieder, Head of Innovation at NFP. "It's like putting a coverage specialist at everyone's desk — but faster and more consistent."

Investor Perspectives

"We backed Qumis early because brokers told us that once they started using it, they couldn't imagine working without it — and would even pay for it themselves if their employer wouldn't," said Brian McLoughlin, Partner at MTech Capital. "In an industry facing social inflation, increasingly complex risks, and a talent crunch, Qumis was the right solution at the right time. The team's traction with major brokers and specialty carriers made this an easy decision to lead."

Qumis will deploy the capital to expand its go-to-market team and deepen product capabilities as demand grows from large brokers, carriers, and coverage-focused law firms.

About Qumis

Qumis delivers coverage intelligence for insurance teams — replacing manual policy review with attorney-trained, insurance-native AI. Built by coverage attorneys and AI experts, Qumis reads and reasons across complex policy documents to deliver structured, citation-backed insights with transparent reasoning. For more information, visit qumis.ai.

Media Contact:
Kyle Kuhnel
kyle@broadsheetcomms.com