Indigo is on a mission to harness artificial intelligence to automate and innovate the legacy medical malpractice insurance industry. The Miami-based company provides an AI-driven liability insurance platform that deliver quotes, reliable coverage, and operational efficiency.
Today, the Miami-based company announced it has raised $50 million in Series B funding. The round was led by existing investor Rubicon Founders, with participation from new investor Town Hall Ventures, and other existing investors including Optum Ventures.
Founded in 2023 and led by co-founder and CEO Jared Kaplan [pictured above], Indigo developed a proprietary AI platform, Lux, that applies advanced machine learning and proprietary risk models to automate underwriting workflows traditionally handled through manual, labor-intensive processes.
By the end of 2025, one-fifth of submissions were fully underwritten automatically, the company reports. Indigo now insures nearly 1,000 providers nationwide and has surpassed $10 million in premium.
“The next phase of innovation in insurance requires technology purpose-built for complex, specialty risk,” said Jared Kaplan, CEO of Indigo, who previously held CEO roles at real estate marketplace Cadre and fintech platform OppFi and co-founded Insureon, an online agency for small business insurance.
“This funding allows us to expand our technology footprint, deepen underwriting rigor, and deliver an exceptional ease-of-doing-business experience for brokers, while ensuring physicians receive pricing and coverage aligned with their true risk profile,” Kaplan continued, in a statement. “Our results demonstrate that advanced automation can drive profitable growth while reducing operational friction.”
Indigo plans to use the new funding to expand R&D and product capabilities, grow distribution partnerships, and scale operations.
“Indigo is executing at the intersection of deep domain expertise and AI excellence. We’ve seen firsthand how their models improve both the speed and quality of underwriting decisions, and this capital will help them scale faster than legacy carriers have been able to for decades,” said Matt Kim, Indigo co-founder and partner at Rubicon Founders.
Adds Town Hall Ventures General Partner David Whelan: “Their ability to quote with lower administrative overhead creates a meaningful advantage in a legacy market, ultimately driving down premiums for high-quality medical groups.”
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Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.