Jake Turner

CTO & Co-founder @ancep_ai

[Jake Turner @Jake_R_Turner]

On Tuesday my co-founder @Gagan Khurana announced that @ancep has raised $8.5m from @Creandum, @Kleiner Perkins and @Vicus Ventures to bring AI to the insurance industry.

Here is why. https://t.co/WJpM6yiulN

[etn. @etnshow]

Ancep CEO and Co-Founder @GaganSKhurana makes the case that insurance is the “single most important market on planet Earth”:

“In this universe, we have these crazy people at the edges of human experience that go off and do things for the very first time. You have the Apollo program, which takes us to the moon, or you have Elon Musk, who’s going to take us to Mars. Thank God we have these crazy people.”

“For everyone outside of these crazy people, you need insurance to industrialise the taking of risk. It’s the single thing that allows people to go out and do things that they otherwise would not have.”

“Good luck getting a house, good luck getting a loan. All of this stuff is built on insurance as the core primitive underneath it. And it is an industry that just doesn’t get enough love.”

“You go back 200 years in time, I would really argue, much to the chagrin of my ancestors, if it wasn’t for insurance, the Brits would not have been able to conquer the world.”

“It was the single structural advantage that the Brits had that allowed them to pool risk across many [backers]... I think the quote goes: ‘Let the risks sit lightly on the heads of the many rather than heavily on the few.’”

“Elon might get us to Mars, but if we’re going to go and expand into the solar system and beyond, insurance is going to be the thing that underlies that.”

[Gagan @GaganSKhurana]

Insurance is the single most important market on planet Earth, yet it still runs on manual work. Today ancep is coming out of stealth with an $8.5m pre-seed round to change that. Our AI agents are being used daily by the largest global brokers to help them place more risk.

[Jake Turner @Jake_R_Turner]

@GaganSKhurana great being your co-founder and partner in crime 🫡