Scout InsurTech Interview with Paperbox

Paperbox is an AI software company. They seek to reduce friction and bring structure to the biggest bottleneck of insurance operations: the Mailroom. Chris Luiz sat with CEO, Frederic Stallaert, to learn more about how Paperbox is impacting the industry.

Who are your clients?

We have 40+ customers ranging from small to large brokers, MGAs, as well as some of the largest insurance carriers in Belgium and one of the largest car insurers in Italy. Recently, we’ve expanded into the Netherlands and the UK, acquiring our first clients there over the past six months.

What does your product do?

Our main product is a claims and policy admin agent designed to handle inbound communication from end customers and distribution channels like brokers. It can read emails, understand context and attachments, processing them separately with prioritization and summarization. The system links messages with existing back-office systems using identifiers like claim ID or policy ID and can perform intelligent searches for complex matching. This automation enables back-office staff at insurance carriers or brokers to focus more on client-oriented tasks, such as complex claim resolution, rather than administrative processing.

How much capital have you raised?

We have not raised any venture capital. We secured a government R&D grant to develop the first version of the product and have mostly funded our growth from customer revenue and bank loans.

Was the company born from within or outside the industry?

The company was born from both within and outside the insurance industry. The initial product idea came from a direct client request. While our background is primarily in technology, as a spin-off of ML6, we addressed our initial lack of industry expertise by bringing on a former insurance CEO as a board advisor.

What growth metrics have you accomplished over the last 12 months?

We have recently surpassed 1 million in annual recurring revenue (ARR) and maintained a zero-churn rate in 2024.

Within your domain, what is the current challenge that the industry is facing?

A major challenge is operational scalability amid consolidation, especially as brokers acquire other broker offices. While many struggle with staff shortages and evolving regulation, the traditional manual handling of emails and claims processing creates bottlenecks. To support strategic growth, there’s a pressing need for technology that reduces operational overhead and enables scalable processes.

How does Paperbox take a unique approach to providing value?

We use advanced large language models to power a configurable mailroom agent capable of handling various types of inbound data and integrating seamlessly with clients’ claims and policy admin workflows. Our AI Agent is designed for business teams rather than technical users, helping them improve outcomes like reduced lead times, fewer errors and better customer focus. We enhance existing systems, processes and personnel rather than replacing them, allowing users to work more efficiently and focus on high-value tasks.

What inspired the team to start this company?

The inspiration came from a real-world demand. The company was born in response to a request from Belfius Insurance, which required a specific solution. We built that solution and expanded from there, combining our tech expertise with industry guidance from experienced insurance leaders.

Can you share any goals for the next 12 months?

Our primary goal is international expansion. Having built a scalable foundation, we aim to establish a presence in more global markets and shift toward enterprise-level engagements. This includes adapting to enterprise sales processes and strengthening our organizational readiness for large-scale clients.

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