Novella, an AI-powered wholesale INSURTECH broker focused on Excess & Surplus lines, has raised $21 million in a round led by Brewer Lane Ventures, with participation from Box Group, Crystal Venture Partners, SV Angel, Avid Ventures, Verissimo Ventures, Blank Ventures, and global insurer Arch. The company, which also participated in the Lloyd’s Lab program, uses AI agents to automate placement, binding, policy review, and renewals, while keeping human producers central to client relationships. Strategically, Novella exemplifies the “augment, don’t replace” approach for AI in relationship-driven, complex insurance markets.

Novella Secures $21M to Expand AI Brokerage