1Fort Company Profile

Background

1Fort is a New York-based insurtech company founded in 2022, dedicated to revolutionizing the business insurance industry through artificial intelligence (AI). The company's mission is to empower insurance brokers by automating antiquated workflows, thereby enabling businesses to secure comprehensive coverage efficiently. By addressing the prevalent issue of underinsurance—where 75% of businesses remain inadequately covered—1Fort aims to modernize a trillion-dollar industry that still relies heavily on manual processes.

Key Strategic Focus

1Fort's strategic focus centers on leveraging AI to streamline and automate the insurance procurement process for brokers and their clients. The company's platform automates tasks such as autofilling insurance applications, retrieving instant quotes, comparing policies, and generating proposals. This automation targets the inefficiencies inherent in traditional insurance workflows, which often involve lengthy email threads, static PDFs, and complex coverage terms. By enhancing the efficiency of brokers, 1Fort aims to increase the accessibility and affordability of top-tier insurance coverage for businesses of all sizes.

Financials and Funding

As of April 2025, 1Fort has raised a total of $10 million in funding. The most recent funding round, announced on April 17, 2025, secured $7.5 million and was led by Bonfire Ventures, with participation from Draper Associates (Tim Draper), Karim Atiyeh (Founder of Ramp), Village Global, Operator Partners, 8-Bit Capital, Character VC, and Company Ventures. This funding is intended to enhance AI innovations, expand partnerships with carriers and brokers, and improve the overall broker experience.

Technological Platform and Innovation

1Fort's platform stands out due to its AI-driven capabilities that automate and optimize various aspects of the insurance process:

Autofilling Insurance Applications: The platform reduces manual data entry by automatically populating insurance applications, minimizing errors and saving time.

Instant Quote Retrieval: Brokers can obtain immediate quotes from multiple A-rated carriers, facilitating quicker decision-making.

Policy Comparison: The system enables side-by-side comparisons of coverage options, helping brokers and clients select the most suitable policies.

Proposal Generation: Automated proposal creation streamlines the process of presenting options to clients, enhancing the efficiency of policy binding.

These features collectively address the traditional challenges of manual processes, unaffordable premiums, complicated coverage terms, and lengthy procurement timelines.

Leadership Team

1Fort's leadership comprises experienced professionals with diverse backgrounds:

Anthony Marshi, CEO: Co-founder and Chief Executive Officer, Anthony has a background in consulting and product management, bringing strategic vision to 1Fort.

Toby Hung, COO: As Co-founder and Chief Operating Officer, Toby oversees operations and growth initiatives, leveraging his experience in technology and insurance sectors.

Leon Rishniw, CTO: Serving as Chief Technology Officer, Leon leads the technological development and innovation efforts at 1Fort.

Malik Abdulwahab, Head of Engineering: Malik directs the engineering team, ensuring the robustness and scalability of 1Fort's platform.

Julie Zimmer, Advisor: Julie provides strategic guidance, drawing from her extensive experience in the insurance industry.

The leadership team collectively brings expertise in technology, insurance, and risk management, positioning 1Fort to effectively address industry challenges.

Competitor Profile

Market Insights and Dynamics

The business insurance industry is a trillion-dollar market characterized by traditional, manual processes that often result in inefficiencies and underinsurance. The increasing prevalence of cyber threats and complex risk landscapes has heightened the demand for innovative solutions that can streamline insurance procurement and enhance coverage adequacy.

Competitor Analysis

1Fort operates in a competitive landscape alongside several notable companies:

Mindgard: Develops an AI-powered platform focused on testing, detecting, and responding to cyber threats against AI models.

Intezer USA: Provides autonomous security solutions, specializing in identifying and mitigating cyber threats through code analysis.

KTrust: Offers a Continuous Threat Exposure Management (CTEM) platform designed to manage and reduce cyber risks.

ThreatConnect: Provides risk quantification, threat intelligence, and security orchestration solutions to enhance organizational security postures.

While these companies focus on various aspects of cybersecurity and risk management, 1Fort differentiates itself by integrating AI-driven automation directly into the insurance procurement process, specifically targeting the inefficiencies faced by brokers and businesses seeking comprehensive coverage.

Strategic Collaborations and Partnerships

1Fort has established partnerships with over a dozen leading brokerages and A-rated carriers, including Arch, Tokio Marine HCC, and Markel. These collaborations enhance the platform's ability to provide brokers with access to a wide range of insurance products and carriers, thereby improving the efficiency and effectiveness of the insurance procurement process.

Operational Insights

By automating key aspects of the insurance workflow, 1Fort enables brokers to save up to two hours per submission and increase their bind rate by up to 20%. This operational efficiency not only benefits brokers but also ensures that businesses receive timely and adequate coverage, addressing the prevalent issue of underinsurance.

Strategic Opportunities and Future Directions

1Fort's strategic roadmap includes:

Enhancing AI Capabilities: Continued investment in AI to further automate and optimize the insurance procurement process.

Expanding Partnerships: Broadening collaborations with additional carriers and brokers to increase market reach and product offerings.

Product Diversification: Developing new features and services to address emerging risks and meet the evolving needs of businesses.

By capitalizing on its technological strengths and industry partnerships, 1Fort is well-positioned to drive innovation and growth in the business insurance sector.