DigitalOwl Funding & Investors

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 to 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. The entire insurance industry is based on data and statistics. Why only use a small portion of the relevant data when you can have it all?