In an effort to feature more insurtechs, Digital Insurance has modified the format of our Meet the insurtech series.
Dan Schuleman, co-founder and CEO at Qumis, shared responses about the company and the technology it's using. Responses have been lightly edited.
What's the origin story of the company?
Qumis was founded to solve one of the most fundamental and frustrating problems in insurance: understanding the policy. Insurance policies are dense, technical, and often open to interpretation. That lack of clarity slows down brokers, confuses clients, and complicates claims.
Seeing an opportunity to combine legal expertise with advances in generative AI, a team of insurance attorneys and technologists came together to build a platform that makes policy interpretation fast, accurate, and actionable.
When was it founded and/or when was the product launched?
The Qumis platform was launched in 2024.
Can you tell me about the founders/founding team?
I am the co-founder and CEO of Qumis. I'm an attorney-turned technology entrepreneur with a background in property and casualty insurance law, as well as the legal needs of a high-growth venture-capital backed startup. Prior to co-founding Qumis, I served as Associate General Counsel at Kin Insurance supporting the executive team on growth and compliance matters. I previously worked at several law firms advising global insurance companies on their most complex claims and risks.
Any meaning behind the company name?
The name Qumis is inspired by Cumis counsel, a legal concept born from a landmark insurance law case. In situations where there's a conflict of interest between an insurance company and its policyholder, the insured has the right to independent legal counsel that the insurer must pay for.
The idea of protecting the insured's best interests, even in complex scenarios, aligns with Qumis' mission to tackle one of the most frustrating problems in insurance: making objective sense of dense, technical policies. By combining legal expertise with generative AI, Qumis delivers fast, accurate, and actionable policy interpretation for brokers, clients, and claims teams.
How many employees?
12
Where is the company based?
Chicago, IL
What pain points is the technology trying to solve?
Qumis is a generative AI company built to tackle the hardest problem in insurance: understanding the policy.
Insurance professionals spend too much time parsing dense, technical policies—whether in routine coverage comparisons or complex claims disputes. Qumis eliminates outdated manual reviews by combining generative AI with insurance law expertise to deliver fast, accurate, and actionable analysis. With Qumis, brokers can compare coverage efficiently, claims teams can assess liability quickly, and organizations can reduce risk while improving client outcomes.
What funding rounds has the company had?
Qumis closed a $2.2 million pre-seed funding round in January. The round was led by Armory Square Ventures with participation from MTech Capital, Grand Ventures, Alumni Ventures, and BrokerTech Ventures.
Strategic investors include Sean Harper, co-founder and CEO of insurtech unicorn Kin Insurance, and Tom Vander Schaaf, former general partner at Edison Partners.
What's ahead?
Qumis is building generative AI for insurance—treating policies both as the legal contracts they are and as the infrastructure of the industry itself. By focusing on the policy we're creating the foundation for a new future where all coverage is clear and insurance can actually deliver on its promises.
