Kalepa

Kalepa

AI decision support platform for underwriters

About Kalepa

Simplify's Rating
Why Kalepa is rated
A
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A+ on Differentiation

Industries

Enterprise Software

AI & Machine Learning

Financial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$14M

Headquarters

New York City, New York

Founded

2018

Overview

Kalepa operates in the commercial insurance market by providing a platform called Copilot that assists underwriters in making better decisions. This platform uses a combination of artificial intelligence and human insights to accurately assess the risks and exposures associated with businesses, which leads to more precise underwriting and pricing of insurance products. Kalepa's approach helps insurance companies minimize expected losses and enhance their operational efficiency. Unlike many competitors, Kalepa focuses specifically on specialty carriers and commercial insurance providers, allowing them to manage new and renewal business more effectively. The company follows a software-as-a-service (SaaS) model, charging clients subscription fees for access to Copilot. Kalepa has shown significant results, such as reducing the time it takes to generate quotes by 40% and increasing the rate of successful policy bindings shortly after implementation.

📈
Significant Headcount Growth
Simplify Jobs

Simplify's Take

What believers are saying

  • Increased AI adoption in underwriting aligns with Kalepa's Copilot capabilities.
  • InsurTech partnerships offer collaboration opportunities with traditional insurers for Kalepa.
  • Growing demand for tailored insurance products benefits Kalepa's customized solutions for SMBs.

What critics are saying

  • Competition from other AI-powered platforms could erode Kalepa's market share.
  • Regulatory scrutiny may arise from AI reliance in underwriting decisions.
  • Resource strain from new MGA formation could impact Kalepa's core SaaS platform.

What makes Kalepa unique

  • Kalepa's Copilot platform combines AI and human intelligence for precise risk assessment.
  • The company offers a SaaS model, enhancing underwriting efficiency for commercial insurers.
  • Kalepa's new MGA focuses on small and mid-market policyholders with exclusive broker partnerships.

Help us improve and share your feedback! Did you find this helpful?

Funding

Total Funding

$14M

Meets

Industry Average

Funded Over

1 Rounds

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Meet Average

Industry standards

$15M
$8.2M
Discord
$14M
Kalepa
$15M
Canva
$30M
Kalshi

Benefits

Competitive salary

Significant equity options package

100% covered medical, 100% covered vision and dental

20 days of PTO a year.

Global team offsites

Healthy living/gym stipend.

Mobile phone bill stipend

Continuing education credits

Home office stipend

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

40%
FF News
Aug 9th, 2024
Merchants Insurance Group Selects Kalepa’S Copilot Underwriting Platform To Power Underwriting Excellence

Merchants Insurance Group, a leading mutual insurance company based in Buffalo, NY, has chosen Kalepa‘s Copilot underwriting platform to elevate its commercial underwriting capabilities. This strategic partnership underscores Kalepa’s continued rapid growth and Merchants’ long-standing commitment to underwriting excellence.Charles Makey, President and CEO of Merchants Insurance Group, expressed enthusiasm about the collaboration, stating, “As we embark on our next century of serving policyholders, it’s imperative that we invest in cutting-edge solutions like Copilot to navigate evolving risks and market dynamics effectively. Copilot’s underwriting capabilities align with our commitment to providing tailored coverage and exceptional service to our agents, our policyholders, and our communities.”Joe Meyer, Senior Vice President of Underwriting, Product Management, and Corporate Programs at Merchants Insurance Group, highlighted ways that Copilot drives value from day one, saying, “Thanks to Copilot, we can streamline our underwriting processes immediately, and our underwriters can make even better risk decisions with greater confidence. With Copilot managing our triage process, our underwriters know exactly which submissions to prioritize and can focus their time on the risks most likely to bind profitably.”“We had heard fantastic feedback about Copilot from one of our program partners, so we knew we had to explore adopting it ourselves,” said Paul Musialowski, Director of Corporate Programs at Merchants Insurance Group. “Copilot doesn’t just scratch the surface; it dives deep into every risk, uncovering exposures and providing recommendations with full transparency and clear evidence. With Copilot, we have confidence that we’re equipped with the information we need to make informed decisions and underwrite with precision.”“We are excited to partner with Merchants Insurance Group to power their ambitions for many years to come,” said Paul Monasterio, CEO of Kalepa, “Mutual insurance companies like Merchants play a vital role in our industry, and we are proud that Copilot is the underwriting platform of choice for mutual insurers everywhere

Coverage
Jul 11th, 2022
Kalepa Forms New Mga

Kalepa, a NY-based insurance startup providing an AI-powered decision support platform for commercial insurance underwriters, has formed a new MGA. Kalepa Insurance Services, which is led by Connie Germano, will focus on small and midmarket policyholders, with policies distributed through wholesale broker partnerships. The MGA will underwrite excess casualty risks using Everspan paper, a susbsidiary of Ambac Financial Group

PRWeb
Jul 11th, 2022
Kalepa Launches Potent Combination Of Ai And Expert Underwriting To...

Kalepa Corporation is pleased to announce the launch of Kalepa Insurance Services (KIS), an insurance offering with capacity through a program partnership with specialty insurer Everspan Group, Rated “A-” by AM Best. With the program, KIS combines the power and speed of Kalepa's proprietary AI-powered Copilot software with deep underwriting expertise to offer insurance solutions in a marketplace in need of capacity. The excess casualty program at KIS, which is writing business effective immediately, focuses on small and mid-market insureds, with policies distributed through exclusive wholesale broker partnerships. A variety of industries are in appetite

Recently Posted Jobs

Sign up to get curated job recommendations

Senior Full Stack Engineer

$170k - $210k/yr

New York, NY, USA

Senior Backend Engineer

$185k - $215k/yr

New York, NY, USA

Strategic Accounts Director

$160k - $190k/yr

New York, NY, USA

See All Jobs

Kalepa is Hiring for 9 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update Kalepa's jobs every few hours, so check again soon! Browse all jobs →

People Also Viewed

Discover companies similar to Kalepa

Copilot

Copilot

New York City, New York

Verikai

Verikai

San Francisco, California

Corvus Insurance

Corvus Insurance

Boston, Massachusetts

Senior Backend Engineer

$185k - $215k/yr

New York, NY, USA

Strategic Accounts Director

$160k - $190k/yr

New York, NY, USA

See All Jobs

Kalepa is Hiring for 9 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update Kalepa's jobs every few hours, so check again soon! Browse all jobs →

People Also Viewed

Discover companies similar to Kalepa

Copilot

Copilot

New York City, New York

Verikai

Verikai

San Francisco, California

Corvus Insurance

Corvus Insurance

Boston, Massachusetts