Who Wins the $1TN Insurance Market?
Corgi, an AI insurance company founded in 2024, had raised again at a $4 billion valuation. Its fourth round of the year. In January it was worth an estimated $630 million.
Corgi, an AI insurance company founded in 2024, had raised again at a $4 billion valuation. Its fourth round of the year. In January it was worth an estimated $630 million.
OpenAI owns part of the company buying up America's accounting firms. It was the first investor in Harvey, legal's biggest AI company. Its engineers already work inside law firms, banks and hospitals.
The $650 billion accounting market is up for grabs... quite literally. KKR and OpenAI are buying their way in, and SoftBank is reportedly writing a cheque to join them.
For decades, every services business has been told the same thing. You cannot scale like software. Your revenue is chained to your headcount. Your margins top out around 30% on a good day. Sell for a low multiple, if you can sell at all. That just stopped being true.
Today the answer has two parts: hours and a share of each year's profits. Both of these are now under pressure coming from the same direction.
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