How Pace Plans to Become the AI Operations Partner for the World's Leading Insurers

Pace, the AI operations partner for insurance, led by Jamie Cuffe, has raised $10 million in funding led by Sequoia Capital. The company welcomes Bryan Schreier and Lauren Reeder as partners on this journey, representing Sequoia on the board.

Insurance carriers shoulder risk to protect homes, businesses, and future planning, but operational friction, submissions, policy servicing, claims, and compliance remain manual and resource-intensive. This friction slows product launches, fragments customer experience, and makes some markets uneconomical, leaving trillions in risk uninsured. The protection gap is fundamentally an operations problem, not a capital one.

Insurers spend nearly $70 billion annually on BPOs for back-office operations, with financial services overall approaching $400 billion, comparable to the enterprise software market. Outsourcing shifted work offshore in the internet era, and AI is poised to shift it again toward agentic automation.

Pace converts Standard Operating Procedures into Agent Operating Procedures, enabling AI agents to execute insurance operations end-to-end using natural language instructions and industry tooling. Agents interpret documents, communicate via email and phone, and update systems through APIs or direct interaction. For example, an endorsement request can be validated, generated, and sent for signature automatically, reducing processes that took hours to minutes.

Pace agents have completed tens of thousands of production tasks, with nearly half executed in the last month, delivering results with 1/100th the traditional BPO workforce while outperforming on accuracy, speed, and scalability. The platform is used by leading insurers, including Prudential, The Mutual Group, and Newfront.

Delivering this vision requires deep AI engineering and industry expertise, reflected in prebuilt AOPs, multimodal task handling, deep system integrations, and agent memory that continuously improves. Pace partners with leading insurers to bridge strategy and execution, enabling faster product launches, consistent customer experiences, and teams focused on high-value work, ultimately strengthening the industry’s ability to protect people at scale.