CoverVector
VectorIQ · SteerIQ · PulseIQ
Confidence to scale AI.
Clarity to insure it.
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Investor Overview · Seed · Confidential
Underwriting infrastructure for AI risk.
The reference layer for AI risk, used by companies, brokers, and carriers.
CoverVector turns enterprise AI usage into underwriting-grade evidence. It gives companies a clearer view of their exposure and gives the insurance market the information it needs to evaluate, place, and insure AI risk.
Top 10 Broker · Paid Pilot Expanded Specialty Broker · Interest Specialty Carrier Interest ×2 VectorIQ Live Patent Pending
Confidence to scale AI. Clarity to insure it.
Seed Round · $5M · 18-Month Operating Plan
The Problem
AI is widening the enterprise risk surface.
AI risk now sits inside everyday business operations, where a single use case can create exposure across several lines of coverage. Assessing that exposure requires disciplined insurance judgment.
Scenario A · Autonomous vehicles
A fleet of self-driving delivery vehicles operating on public roads.
Scenario B · Agentic finance
An AI agent that approves transactions and moves money with no human in the loop.
Scenario C · Generative AI
A generative-AI assistant that creates content and advice for customers.
Click to step through each scenario; the final step shows the full footprint
EPLI
D&O
E&O
Cyber
Product Liability
Product Recall
Commercial Auto
Contingent BI
Crime
Workers' Comp
Media & IP
Reps & Warranties
Fiduciary
Regulatory Defense
Umbrella & Excess
Companies are deploying AI without a clear risk view, while carriers are holding back from exposures they cannot yet classify, price, or condition.
The Founder
Closing the AI risk coverage gap requires lived experience on both sides.
Rare founder-market fit for a hard insurance problem.
Founder & Chief Executive Officer
Neeren Chauhan
Enterprise AI Leader · Insurance Operator · Engineer
VectorIQ was born from lived experience: as a Chief AI Officer, needing a structured view of AI exposure to scale with confidence and access risk transfer; and as a carrier operator, seeing that underwriters need evidence and a consistent risk record to underwrite it.
ExpertiseMarket AccessIndustry Credibility
Enterprise AI Risk Surface
Scaled enterprise AI: Led production AI across business units.
Built the control foundation: Governance, model risk, data quality, security, interoperability.
Connected AI to operating reality: Adoption, controls, workflow change, executive risk tradeoffs.
Carrier Operating Judgment
Modernized underwriting: Zurich underwriting innovation, Tokio Marine cyber underwriting transformation.
Built specialty distribution: Wholesale, E&S, new business design at Zurich.
Owned operating economics at scale: Allstate omnichannel distribution platform.
Why Now
The conditions that create this market are already in place.
From experiment to production
Enterprise AI has crossed the pilot threshold.
88%
Orgs using AI
29%
F500 buying AI
McKinsey 2025 · a16z 2026
The insurance market is hardening around AI
Exclusions are live. Litigation is accelerating.
978%
Litigation surge
CG 40 47
Exclusions 2026
Gallagher Re 2025 · Verisk ISO 2026
Regulation and board accountability
AI governance is now a critical board-level responsibility.
1,561
AI bills · 45 states
NAIC
Model bulletin live
NCSL 2026 · NAIC 2023
Market · 2030
$50B+ AI-Risk Insurance Market by 2030
$1.3T 2030 COMMERCIAL P&C $390B CORE $910B SECONDARY × 50% × 15% $332B MATERIAL AI-EXPOSED $195B CORE $137B SECONDARY × 20% × 10% $53B AI-CONTINGENT PREMIUM $39B CORE $14B SECONDARY
From the $53B to our revenue
We monetize the infrastructure layer for AI risk transfer across this $53B premium: broker licensing ~$2.1B · carrier licensing ~$2.8B · monitoring ~$3.7B = ~$8.6B economic TAM. Year-3 base ~$129M implies ~1.5% penetration.
Sources: Swiss Re Sigma 3/2025 · Aon · Marsh · Lockton · ISO CG 40 47/48 · CoverVector model.
The Product
The primitive for AI risk transfer.
VectorIQ creates the structured AI Risk Record: one evidence-graded, coverage-mapped file, a common input consumed by companies, brokers, and carriers.
CURRENT STATE SOC 2 REPORT AI coverage: none 200pp, no AI signal BROKER SUBMISSION "Uses some AI" No scope or evidence COMPLIANCE CHECK Self-attested only No validation RISK QUESTIONNAIRE Generic, not AI Not mapped to coverage COVERAGE ANALYSIS Manual, one-off Not comparable EVIDENCE FILE Inconsistent depth Claims vs. proof unclear MODEL DOCS Incomplete or stale No version lineage UW SUPPLEMENT Narrative only No structured data VectorIQ CANONICAL AI-RISK RECORD EXPOSURE AI use cases, vendors, autonomy, decision impact EVIDENCE Verified / declared / inferred / missing / stale RISK SCORE Five weighted dimensions + confidence band INSURANCE TRANSLATION Claims scenarios, policy lines, exclusions, conditions 62 / 100 ELEVATED CONFIDENCE Tier 2 · ±10 E&O · D&O · Cyber · EPLI · Product · Crime + more Patent Pending Deterministic Traceable Auditable RISK TRANSFER CHAIN Company Know what is material before placement. AI footprint, control gaps, evidence gaps, remediation priorities. Materiality Control gaps Insurability Broker Turn AI exposure into a carrier-ready submission. Coverage gaps, line mapping, evidence file, placement narrative. Submission quality Coverage gaps Speed Carrier Underwrite AI-exposed accounts consistently. Traceable evidence, follow-up questions, conditions, exclusions, portfolio view. Consistency Conditions Portfolio
Why We Win
The moat compounds through workflow, records, and outcomes.
CoverVector sits where enterprise AI exposure becomes assessment, underwriting, remediation, and renewal. That position creates the record system and data exhaust the market does not have today.
01 WORKFLOW POSITION Embedded in assessment, submission, underwriting review, remediation, and renewal. 02 RISK RECORD Each engagement creates a structured pre-loss AI-risk record mapped to coverage and evidence. 03 MARKET FEEDBACK Carrier questions, conditions, exclusions, pricing signals, and bind decisions label the record. 04 DATA ADVANTAGE The dataset gets smarter over time, and eventually links pre-loss posture to claims and loss experience. Better signal pulls more usage. More usage improves the record.
Commercial Model
Broker-led distribution across enterprise AI risk transfer value chain.
CoverVector enters through broker workflows, structures enterprise AI exposure into an underwriting-grade record, and supports consistent carrier review over time.
Broker distribution
Broker
Wholesale · Retail · E&S
Brokers use CoverVector where AI exposure affects submission quality, coverage strategy, renewal discussions, and carrier follow-up.
Revenue motion
Broker licensing
Channel monitoring
Proof today
Paid pilot expanded to global AI-risk team
Specialty broker · Interest
Enterprise risk record
Enterprise
CISOs · Risk Officers · GCs
Enterprise accounts provide the evidence needed to evaluate AI usage, controls, vendors, governance, human oversight, and policy-line exposure.
Revenue motion
Paid assessment workflow
Monitoring subscription
Proof today
Fortune 500 demo completed
Assessment workflow live
Carrier underwriting adoption
Carrier
Underwriting · Actuarial · Product
Carriers use the same structured record to review AI exposure, assess appetite, identify conditions, shape exclusions, and compare accounts over time.
Revenue motion
Carrier licensing
Channel monitoring
Proof today
Specialty carrier interest ×2
Strategic global carrier · Active
One underwriting-grade record moving through the broker, insured, and carrier workflow, with broker traction already proving the wedge.
The Vision
Platform licensing is the core revenue driver, supported by recurring monitoring and assessments.
CoverVector monetizes the AI-risk record through licensed deployments inside broker and carrier workflows, plus recurring monitoring distributed through the same channel.
UPSIDE ~1.5x if it proves out Monitoring is modeled at a conservative attach. As the subscription proves out early, Year 3 → ~$190M+ $0$75M$150M $2.05M YEAR ONE $28.7M YEAR TWO $128.8M YEAR THREE Licensing Monitoring Assessment
Confidence to scale AI. Clarity to insure it.
Every transformative technology, from railroads to electricity to the automobile, reached industrial mainstream scale only after the world learned to transfer and manage its risk.

AI will not be the exception. The capital is committed and the capability is real. The risk transfer infrastructure to price and underwrite AI risk is not. CoverVector is building that layer.
Neeren Chauhan Founder & CEO 773.910.8931
CONFIDENTIAL. VectorIQ scoring methodology, data architecture, and risk models are proprietary to CoverVector, Inc. Patent pending. Distribution by unique link only. Do not forward or reproduce.
Appendix I · Seed to Series A
$5M funds the path from product build to Series A proof.
The seed round funds the risk-record product, broker and carrier deployments, and the operating proof needed to raise Series A with momentum.
Use of Proceeds
Product, eng & AI/data
$2.30M46%
Insurance & commercialization
$1.05M21%
Trust, legal & infrastructure
$0.95M19%
Founder comp & contingency
$0.70M14%
Total
$5.0M100%
Monthly Burn
M1-6$150-220K
M7-12$275-350K
M13-18$400-475K
18-Month Build Plan
M0
Seed closes
M6
Production platform live · First paid AI-risk records · First broker workflows
M12
200 paid assessments · 2 broker deployments · 1 carrier pilot · ~$2.05M LTM revenue
M15-18
Series A process · 6-8 broker deployments · 2-3 carrier pilots / deployments · Licensing becomes the main proof point
Series A Readiness
Production-grade engine · 750-1K records · 6-8 broker deployments · 2-3 carrier deployments/pilots · $2.5-4.0M signed recurring value
Path to Series A
Seed raise$5.0M
Runway18 months
Series A launchMonth 15
Broker deployments6-8 live
Carrier deploy / pilots2-3
Signed recurring$2.5-4.0M
Y2 revenue path~$29M
Runway Posture
Cash at M18~$6.0M / $2.0M
If raise slips~breakeven / 11mo
Collections-off~15 / 6mo
Base / slower-adoption. Hold plan credits contracted minimums only.

Series A is raised on deployment pull, licensing traction, and evidence that the AI-risk record is becoming part of insurance workflow.

Appendix II · Revenue Model
How the numbers build: three engines on one reusable record.
The logic behind the annual revenue, and why every price sits below what established insurance-data businesses already charge. The exact unit counts, attach curves and sensitivities are the in-person walk-through.
Licensing · ~69% of Yr 3
Each broker and carrier deployment pays an annual platform fee + per-record usage. Revenue scales as deployments are added and record volume compounds. The hard-contracted core.
Monitoring · ~29% of Yr 3
Companies subscribe at $1,999/yr, sold through the broker and carrier channel. Recurring, and it compounds on the attached book as the platform grows.
Assessment · the wedge
Each AI-risk record begins as a $699 assessment that seeds the platform and the data. Everything beyond it recurs, reaching ~98% recurring by Year 3.
What the market already pays
Established price
Where CoverVector sits
CyberCube · cyber analytics
~$100K/yr
$150K platform spans 15 lines, near a single-line tool
Cat models · RMS / Verisk
~$539K/yr
$250K carrier license is under half one peril-model contract
Verisk · industry data
~70% from carriers
The risk-bearer is the primary payer, the same structure
Security ratings · BitSight / SecurityScorecard
~$20K/co/yr
$1,999 monitoring is a fraction, with headroom above
The detail is a conversation. The full bottom-up build, covering unit counts, attach curves, channel design and sensitivities, is best walked through together.
Appendix III · Competitive Landscape
The AI risk-transfer market is forming in fragments.
Governance, model warranties, affirmative AI policies and cyber endorsements each address part of the problem. The open space is a portable, account-level record a broker can take to multiple markets and a carrier can compare across accounts.
portability across placement markets ▶ underwriting usefulness ▶ Account-level recordacross lines Single- / few-linecoverage Model-level Complianceposture Captive · one paper or platform Within one firm Portable · market-wide hover shaded areas for detail ▾ Early affirmative coverageNarrow limits and selected risks Armilla × ChaucerAI liability cover Coalition · Hiscoxwording on own forms Beazley · QBEAI sublimits ~10% (proposed) Model-specific warrantiesUseful where the model is defined Munich Re aiSureper-model guarantees Armillamodel warranties Governance and control platformsControl records, not placement records Credo AIVanta FiddlerOneTrust Account-level AI risk recordportable account-level evidence CoverVectorevidence strength · cross-linefor placement and underwriting positions reflect scope and paper, not scale
Illustrative; positions reflect scope and paper, not scale. Vendor and carrier names are public examples, not partners or endorsers.
Appendix IV · Risk Factors
Known risks. Clear milestones to test them.
Risk
Built into the model
Proof / milestone
Market timing
Sells into active renewal and placement pain today
ISO CGL AI exclusions already in effect
Carrier adoption
Broker-led entry creates value before broad carrier adoption
8-12 week pilots with defined outputs
Loss-data gap
Expert-calibrated structure; adoption builds the data loop
Calibration review at ~200-500 bound submissions
Regulatory shifts
More regulation increases need for structured risk records
45 states, 1,561 AI bills as of March 2026
Incumbent response
Portable, carrier-agnostic record designed to work across placement markets
Broker adoption and cross-market portability must prove differentiation
Revenue concentration
Early revenue may be concentrated in a small number of broker deployments
Target 6-8 broker deployments by Series A