Soteris, a YC-backed machine learning company for the P&C insurance industry, today announced the launch of a new product that helps carriers and MGAs make more money, often millions more, from their current distribution network, without any change to rates, forms, filings, or headcount.

Soteris has raised over $8 million in seed funding, led by Spider Capital, with participation from Intact Private Capital, Amplify Partners, DCVC, the Webb Investment Network, and Overlook Ventures.

Soteris is an AI platform that gives P&C insurers policy-level insight on their most important financial metrics, such as policy profitability and expected loss ratio, at quote, endorsement, and renewal. Soteris products surface both the negative-profit and high loss ratio policies hidden inside segment averages, enabling insurers to grow profit, increase profit margins, and improve loss ratios. Soteris has scored over 100 million submissions to date, amounting to over $180 billion in insurance premiums.