Article ID: 5f5e75b5db916cc722f1325ab829491518b3268694f1d108de3ca600a085640e
Source ID: secondary:businessinsurance.com
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URL: https://www.businessinsurance.com/novella-raises-21m-to-expand-ai-driven-wholesale-brokerage/
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Novella raises $21M to expand AI-driven wholesale brokerage - Business Insurance Skip to content Register for free Search Search Log In Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Risk Management Cyber Risks Pricing Trends Mergers & Acquisitions Technology Sponsored Content WSIA RISKWORLD Workers Comp & Safety Workers Comp Cost Control Pain Management Workplace Safety International EMEA Asia-Pacific Latin America People Events BI Intelligence Top 100 Agents & Brokers Best Places to Work 2025 Lists Directories Insurance Pricing BI Stock Index Magazine Current Issue Past Issues Subscribe Women to Watch ALL INsurance Resources Risk Perspectives Sponsored Content Webinars White Papers Novella raises $21M to expand AI-driven wholesale brokerage by Gavin Souter Max Kane Agents and Brokers , Excess and Surplus Lines , Insurtech May 14, 2026 New York-based wholesaler Novella said Thursday it has raised $21 million to expand its operations and continue developing artificial intelligence tools designed to automate parts of the insurance placement process. The funding round was led by Brewer Lane Ventures and included investors such as Arch, according to the company. Novella, founded in 2024, focuses on middle-market commercial property, general liability and excess casualty business, primarily in commercial real estate and hospitality, Chief Executive Officer Max Kane said in an interview. The company began broadly operating its brokerage business in August 2025 after spending about a year developing its technology platform. The company uses AI agents to review submission documents, summarize risks, recommend markets and automate tasks such as policy review, while keeping brokers involved in the placement process, he said. “These are not accounts people are buying from chatbots,” Mr. Kane said. “We want to enable our brokers to spend 100% of their time building relationships and getting to know their retailers.” Novella currently has about 20 employees, including seven brokers, though the brokerage team is expected to double in the coming weeks, Mr. Kane said, who previously worked at Lemonade. The company has offices in New York, Miami and Houston and is considering opening a California office, he said. Novella works with close to 100 excess and surplus lines insurers and the average premium per account is about $50,000, trending toward $100,000, Mr. Kane said. Related News Indiana court wipes out $10M pollution cleanup verdict against excess insurer May 14, 2026 NFP promotes Kenny Slattery to head of carrier management, broking May 14, 2026 Most D&O insurance rates flat or lower: Report May 14, 2026 MCG Health urges transparency in AI adoption May 14, 2026 Cybersecurity firm, Acrisure team up on E&O insurance program May 14, 2026 Slow organic growth, soft market hit public brokers: Consultant May 14, 2026 Flight attendant accidentally lands film role May 14, 2026 Best downgrades captive insurer NASWIC May 14, 2026 Lawmakers pass firefighter presumption, electronic service bills May 14, 2026 Facebook-f X-twitter Linkedin-in Business Insurance is a singular, authoritative news and information source for executives focused upon risk management, risk transfer and risk financing. Never miss important news: Become a Business Insurance Online subscriber today Subscribe Now Information About Us Contact Advertise Privacy Policy Terms & Conditions Copyright 2026. BUSINESS INSURANCE HOLDINGS Member, Beacon International Group, Ltd.
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