Groundspeed Analytics, Inc.

Groundspeed Analytics, Inc. , based in the US, specializes in advanced data analytics solutions for the commercial insurance sector, enhancing underwriting processes through its innovative AI-driven tool, SubmissionIQ. Groundspeed Analytics, Inc. was founded in 2016 in Ann Arbor, US, to provide data analytics solutions for the commercial insurance industry.

The company has participated in 5 funding deals, with the most recent funding round being Venture Debt of USD 10. 00 mn from Horizon Technology Finance on June 20, 2023. To date, Groundspeed has raised a total of USD 30. 00 mn.

Eric Kobe serves as the CEO. Groundspeed specializes in providing advanced data analytics solutions tailored for the commercial insurance industry, primarily through its flagship product, SubmissionIQ. This innovative AI-driven tool enhances underwriting processes by automating the extraction and analysis of data from various sources, including loss runs and exposure schedules. Groundspeed leverages technologies such as artificial intelligence (AI), machine learning (ML), and natural language processing (NLP) to streamline workflows, reduce time spent on data validation, and create precise risk profiles for insurance carriers and managing general agents (MGAs).

Their client base includes insurance companies and brokers seeking to optimize their underwriting decisions and enhance operational efficiency. Groundspeed generates revenue through B2B transactions, primarily structured around subscription models for their advanced analytics services. Clients, such as insurance carriers and MGAs, engage with Groundspeed on a contractual basis to access SubmissionIQ and related services. Revenue is derived from annual licensing fees and can include additional charges for customized solutions and data integrations tailored to specific client needs.

This subscription model ensures recurring revenue while fostering long-term partnerships with clients, focusing on improved data accuracy and operational efficiency. In June 2023, Insurance Quantified acquired Groundspeed Analytics, Inc. , a move that is expected to strengthen the market technology of Insurance Quantified and maximize the value of data for commercial property and casualty insurers. CEO Eric Kobe will join the Insurance Quantified team following the acquisition.