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At-Bay vs Gradient AI — Underwriting workstation for US insurance, 2026.

At-Bay (3 named carriers) and Gradient AI (8 named carriers) both sit at the underwriting workstation layer. Zero customer overlap in the public roster — they are addressing different segments of the same stack layer.

Last verified 2026-04-22 · methodology

TL;DR

  • At-Bay has 3 publicly-named carrier deployments; Gradient AI has 8. Both at the underwriting workstation layer.
  • Zero customer overlap in the public roster. At-Bay and Gradient AI are addressing different carriers within the same stack layer.
  • Both classified ai-native on Phidea's generation axis.
  • Both independent ownership.
  • Analyst coverage: 0 firms cover both, 3 only At-Bay, 3 only Gradient AI.

Customer overlap

BucketCount
Named on At-Bay only3
Named on Gradient AI only8
Named on both0
of which US-named on at least one side0

Only on At-Bay

  • At-Bay Specialty Insurance Company (US)
  • Markel Corporation (subsidiary) (US)
  • HSB Specialty Insurance Company (Munich Re) (US)

Only on Gradient AI

  • The Builders Group (US)
  • AmFed (US)
  • BTIS (Builders & Tradesmen's Insurance Services) (US)
  • Signal Mutual Indemnity Association (US)
  • Allied National (US)
  • ATS Underwriting (US)
  • Skyward Specialty Insurance (US)
  • North Carolina League of Municipalities (US)

Counts derived from 11sourced carrier-deployment entries across both vendor cards. Aggregate-only statements (e.g. “16 of the top 20”) excluded.

Stack position

At-Bay
Generation
ai-native
Stack layer
Underwriting workstation
Founded
2016
Lines
commercial, specialty
Replaces
manual cyber underwriting, traditional mga submission review
Gradient AI
Generation
ai-native
Stack layer
Underwriting workstation
Founded
2018
Lines
workers-comp, health, commercial

Ownership and corporate context

At-Bay
Type
independent

Source: At-Bay

Gradient AI
Type
independent

Source: Gradient AI

Carrier-segment specialization

At-Bay — geographic split

  • US
    3

Gradient AI — geographic split

  • US
    8

Analyst coverage differential

Only At-Bay cited by
  • TechCrunch (2020: Cyber insurance startup At-Bay raises $34M Series C, adds M12 as a new investor)
  • Insurance Insider US (2025: At-Bay to exit the admitted cyber market, sunsetting its product offering)
  • Insurance Journal (2022: Cyber MGA At-Bay Acquires Tech-Solutions Provider Relay)
Only Gradient AI cited by
  • Digital Insurance (2018: Gradient A.I., spun out of Milliman, looks to midsize insurers for growth)
  • SiliconANGLE (2024: Gradient AI secures $56M to enhance insurance industry efficiency)
  • InsurTech Digital (2023: Signal Mutual Integrates Gradient AI for Claims Management)

Recent news (last 12 months)

No news items in the last 12 months for either tool.

Sourced limitations

At-Bay
  • At-Bay is a US-only operator. Cyber policies are placed through At-Bay Specialty Insurance Company (E&S, 44 US states) or through a Markel subsidiary (admitted, 47 states). No UK, EU, or Canadian authorised entity is published. Internationally licensed brokers cannot bind At-Bay capacity directly.
    Source: At-Bay
  • In 2024–2025 At-Bay shuttered its Relay digital placement platform (acquired August 2022), laid off approximately 10% of staff including 25 Israeli R&D roles, and announced the sunset of its admitted cyber product — retrenching to E&S cyber and InsurSec. This signals that the combined 'insurance + MDR' thesis has not yet produced a scalable dual-sided P&L.
    Source: The Insurer / Cyber Risk Insurer
  • At-Bay's claims efficacy data (ransomware frequency, MDR containment times under 15 minutes) is self-reported from its own book via the annual InsurSec Report. Independent validation from Gartner, Forrester, Celent, or Advisen is not published in 2024–2025 cyber insurance quadrants.
    Source: At-Bay
Gradient AI
  • Gradient AI is not an underwriting workstation or a policy admin system. It ships risk scores, loss-ratio predictions, and claim-triage signals that carriers and MGUs consume via API or embed into existing underwriting and claims workflows (e.g. Origami Risk for The Builders Group, Duck Creek via a named partnership). Replacing a PAS or a claims admin system is out of scope.
    Source: Duck Creek Technologies
  • Despite marketing references to 'all major lines of insurance', Gradient AI's productised coverage is concentrated in workers' compensation, group health (including medical stop-loss) and general/commercial P&C. No dedicated life insurance product surfaced in press releases or product pages reviewed here; MassMutual Ventures is a minority investor, not a life underwriting customer.
    Source: Gradient AI
  • No Gartner, Forrester or Celent dedicated vendor profile on Gradient AI surfaced in public search. Third-party coverage is concentrated in trade press (Digital Insurance, SiliconANGLE, InsurTech Digital, Insurance Business America) and Gradient's own Business Wire releases — buyers relying on analyst rankings will find the signal thin.
    Source: Crunchbase

Limitations published on Phidea are sourced to the underlying citation and reflect what is publicly named — not an exhaustive list. Consult the vendor card for the full record.

Frequently asked

Do any carriers run both At-Bay and Gradient AI?
Not in Phidea's public roster. Across 11 sourced carrier-deployment entries on both vendor cards, zero carriers appear on both. The two tools are addressing different carriers within the same stack layer.
Who owns At-Bay and Gradient AI?
At-Bay is independently held. Gradient AI is independently held.
Which has more named US carriers?
Gradient AI has the larger publicly-named US roster: At-Bay 3, Gradient AI 8. Public-roster size is a coverage signal, not a quality signal — vendors with stronger NDAs may have larger actual US footprints than the public count shows.
Where are these tools positioned in the insurance stack?
Both sit at the underwriting workstation layer. At-Bay replaces manual cyber underwriting, traditional mga submission review; Gradient AI operates as a standalone vendor.

Adjacent reading