Solvrays Market Research Report

Company Profile: Solvrays

Background

Solvrays is an AI-powered workflow automation platform established in December 2024, headquartered in Winston-Salem, North Carolina. The company specializes in transforming insurance operations by integrating intelligent automation with human oversight, aiming to modernize legacy processes and enhance operational efficiency. Their mission is to streamline back-office tasks, allowing insurers to focus on product innovation and customer experience. Solvrays operates within the insurtech industry, addressing the need for modernization in insurance operations.

Key Strategic Focus

Solvrays focuses on automating manual back-office processes in the insurance sector through its proprietary AI-driven platform. The company's core objectives include:

Automating Back-Office Operations: Utilizing AI to handle tasks such as data extraction, document processing, and workflow orchestration.

Integrating with Legacy Systems: Ensuring seamless integration with existing insurance infrastructure without the need for system replacements.

Enhancing Operational Efficiency: Reducing cycle times, minimizing errors, and improving overall productivity within insurance operations.

The company specializes in AI-driven workflow automation, focusing on life, annuity, and property & casualty (P&C) insurance sectors. The platform employs agentic AI capabilities to automate up to 70% of manual back-office work, aiming to cut costs and accelerate decision-making processes.

Financials and Funding

As of January 2026, Solvrays is in the process of raising a $1.5 million SAFE (Simple Agreement for Future Equity) round. The company has previously secured funding to support its development and strategic initiatives. The capital raised is intended to:

Expand Product Development: Enhance and diversify the platform's AI capabilities.

Strengthen Market Position: Increase market penetration and establish a stronger presence in the insurtech industry.

Support Strategic Partnerships: Facilitate collaborations with other industry players to broaden the platform's reach and functionality.

Pipeline Development

Solvrays has developed a suite of proprietary automation modules, referred to as "Genes," each designed to address specific operational challenges within insurance processes. Key modules include:

PulseGene: An AI-driven orchestration engine that manages workflow automation.

DocuGene: A correspondence accelerator that automates document generation and management.

DeskGene: A module focused on automating desk-level tasks and processes.

ScribeGene: A tool designed for automated data entry and management.

CalcGene: A module that handles complex calculations and data processing tasks.

These modules are integrated into the Solvrays platform to provide end-to-end automation solutions for insurance carriers.

Technological Platform and Innovation

Solvrays' platform is distinguished by several innovative features:

Agentic AI Capabilities: The platform employs autonomous AI agents to execute tasks, reducing the need for manual intervention and enhancing operational efficiency.

No-Code Workflow Orchestration: Solvrays offers a no-code environment that allows users to design and implement workflows without requiring extensive technical expertise.

Legacy System Integration: The platform is designed to integrate seamlessly with existing insurance systems, enabling modernization without the need for complete system overhauls.

Modular Architecture: The "Genes" modules provide customizable solutions tailored to specific operational needs within the insurance industry.

Leadership Team

Bobbie Shrivastav: Co-Founder and CEO. Bobbie is a seasoned entrepreneur with experience in digital transformation within the insurance sector. She has previously co-founded Docsmore and Benekiva, focusing on modernizing insurance processes.

Soven Shrivastav: Co-Founder and CTO. Soven has a background in enterprise architecture and AI/automation, having co-founded Docsmore and Benekiva. He has also held positions at Cognitive Medical Systems, Aon Consulting, and Wells Fargo.

Competitor Profile and Market Insights

Market Dynamics

The insurtech industry is experiencing significant growth, driven by the need for digital transformation in insurance operations. Companies are increasingly adopting AI and automation to streamline processes, reduce costs, and enhance customer experiences. The market is characterized by rapid technological advancements and a competitive landscape with numerous startups and established players.

Key Competitors

SPLICE Software: Offers an omnichannel communications platform integrated with AI capabilities, focusing on enhancing customer engagement and operational efficiency.

ManageMy: Provides a no-code platform for insurance carriers to configure workflows and digital experiences, aiming to simplify insurance processes through superior digital experiences.

Penn River: Specializes in cloud-native life and annuities policy administration, focusing on modernizing back-office operations through AI-driven orchestration.

Strategic Collaborations and Partnerships

Solvrays has formed strategic partnerships to enhance its platform's capabilities and market reach:

SPLICE Software: Collaborated to integrate enterprise-grade communications with agentic workflow automation, enabling insurers to streamline operations and personalize outreach.

ManageMy: Partnered to combine intelligent back-end automation with no-code configuration, allowing insurance carriers to automate workflows and deliver better customer experiences.

Penn River: Joined forces to transform life and annuities back-office operations through AI-driven orchestration, aiming to eliminate back-office friction and accelerate key functions.

Operational Insights

Solvrays differentiates itself through its focus on agentic AI capabilities and seamless integration with existing insurance systems. The platform's modular architecture allows for tailored solutions, addressing specific operational challenges within the insurance industry. By partnering with established players like SPLICE Software, ManageMy, and Penn River, Solvrays enhances its service offerings and strengthens its position in the market.