Federato builds an AI-native operating system for insurance underwriting, branded around its RiskOps platform. Rather than replacing a carrier's core systems, Federato integrates with existing workflows and overlays agentic AI that conducts complex analytical work, surfaces the best risks, and aligns individual underwriting decisions with portfolio-level strategy and reinsurance treaties. Underwriters get real-time guidance on which submissions to prioritize, how a risk affects accumulation, and where appetite gaps exist, while leadership gets a live view of portfolio health. The company has grown rapidly among commercial P&C carriers, MGAs and specialty insurers, and raised a $100M Series D in November 2025 led by Growth Equity at Goldman Sachs Alternatives, bringing total funding to more than $180M. Federato positions itself at the center of the shift from manual, spreadsheet-driven underwriting to data-driven, agentic decision-making.