The processes of Underwriting and Claim Adjustment are labor-intensive and error-prone. Insurance companies need to read and analyze hundreds of medical documents per case and outsource the work to an expensive third-party medical reviewer. DigitalOwl developed an AI system for underwriters and claim analysts, primarily working with health-related insurance products such as Life, Disability/Income Protection, Workers’ Compensation, Health, Accident, and Voluntary/Supplemental products.
The system reads, understands, and analyzes medical documents automatically and quickly. Using a state-of-the-art NLP engine, the system extracts the relevant medical information that is necessary for assessing risk or managing a claim. A deep understanding of the medical text creates a detailed and complete set of medical data points in a robust, summarized format for the underwriter or claim analyst, allowing them to focus their valuable time on making better decisions, faster.
Total Funding: $6.5 M
Funding Stage: Seed
Business Stage: Scaling Up
Market: B2B
Company Size: 26 to 50
Founded: 2017
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