Soteris Raises $8M Seed Led by Spider Capital to Score P&C Policies for Profitability

Soteris Secures $8M Seed Round

Soteris, an AI platform built for the property and casualty (P&C) insurance industry, has raised an $8 million seed round led by Spider Capital. The funding closed on September 22, 2026.

Additional participation in the round came from Intact Private Capital, Amplify Partners, Overlook Ventures, DCVC, and Webb Investment Network.

What Soteris Does

Soteris scores individual insurance policies for profitability and expected loss ratio at four key points in the policy lifecycle:

• Quote
• Binding
• Endorsement
• Renewal

The company's proprietary machine-learning models generate millions of credible segmentations of an insurer's policy history. The purpose is to surface money-losing policies that are hidden inside segment averages — policies that look acceptable when viewed as part of a broader group but are individually unprofitable.

Technical and Operational Profile

According to the company, implementations go live in under 90 days, and scores are returned in under 250 milliseconds via API. That combination of fast deployment and low-latency scoring is aimed at fitting into existing carrier and MGA workflows rather than requiring a lengthy systems overhaul.

Traction

Soteris has been live with carriers and MGAs since 2020. In that time, the company reports it has scored over 100 million policy submissions, representing more than $180 billion in premiums.

Company Background

Soteris was founded by Dr. Sunit Shah and was part of the Y Combinator 2019 cohort. The company is currently at the seed stage.

Why This Round Matters

The P&C insurance market has long relied on segment-level averages to price and evaluate risk. Soteris is positioning its platform as a way to move beyond those averages by scoring policies individually, at the moment decisions are made. For carriers and MGAs, the value proposition is straightforward: identify unprofitable policies earlier, whether at the point of quote, binding, endorsement, or renewal.

The involvement of Intact Private Capital alongside a mix of venture investors suggests continued interest in insurance-focused AI infrastructure. The round gives Soteris additional capital to expand its work with carriers and MGAs as it continues to scale its scoring platform.

At a Glance

• Company: Soteris
• Sector: AI for property and casualty insurance
• Round: Seed
• Amount: $8,000,000 USD
• Date: September 22, 2026
• Lead Investor: Spider Capital
• Other Investors: Intact Private Capital, Amplify Partners, Overlook Ventures, DCVC, Webb Investment Network
• Founder: Dr. Sunit Shah
• Background: Y Combinator 2019 cohort
• Live since: 2020
• Reported scale: 100M+ policy submissions scored; $180B+ in premiums