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Top 10 Startups developing AI for Insurance
Updated: February 25, 2024 |
AI for Insurance can help to evaluate personal risks and select the most appropriate insurance plan for each customer, make the claims settlement more fast and decrease the fraud.
1
Country: China | Funding: $2.6B
SenseTime develops face recognition technology that can be applied to payment and picture analysis, which could be used, for instance, on bank card verification and security systems.
SenseTime develops face recognition technology that can be applied to payment and picture analysis, which could be used, for instance, on bank card verification and security systems.
2
Country: USA | Funding: $631.5M
Lemonade offers homeowners and renters insurance powered by artificial intelligence and behavioral economics.
Lemonade offers homeowners and renters insurance powered by artificial intelligence and behavioral economics.
3
Country: France | Funding: $540M
Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance.
Shift Technology leverages the best of data science to automatically detect networks of fraudsters in insurance.
4
Country: USA | Funding: $300M
ZestFinance allows to increase approval rates, cut credit losses, and improve underwriting using machine learning underwriting platform. ZestFinance’s credit-decisioning platform helps lenders predict credit risk so they can increase revenues, reduce risk & ensure compliance.
ZestFinance allows to increase approval rates, cut credit losses, and improve underwriting using machine learning underwriting platform. ZestFinance’s credit-decisioning platform helps lenders predict credit risk so they can increase revenues, reduce risk & ensure compliance.
5
Country: USA | Funding: $261M
Jerry is an AI, ML and bot-powered car ownership super app that puts solutions at your fingertips and savings in your wallet.
Jerry is an AI, ML and bot-powered car ownership super app that puts solutions at your fingertips and savings in your wallet.
6
Country: USA | Funding: $217M
Arceo’s mission is to secure enterprises from cyber threats by blending security expertise, credible risk assessments, and risk transfer.
Arceo’s mission is to secure enterprises from cyber threats by blending security expertise, credible risk assessments, and risk transfer.
7
Country: USA | Funding: $200M
Afiniti enables the real-time, optimized pairing of individual contact center agents with individual customers in large enterprises. It provides its services to a range of sectors, including airlines, financial services, hospitality, insurance, politics, retail, satellite TV, social media, telecommunications, and utilities.
Afiniti enables the real-time, optimized pairing of individual contact center agents with individual customers in large enterprises. It provides its services to a range of sectors, including airlines, financial services, hospitality, insurance, politics, retail, satellite TV, social media, telecommunications, and utilities.
8
Country: UK | Funding: $184.9M
Tractable builds deep learning tools for visual inspection that can perform faster, cheaper and more accurately than humans. Their technology automates an expert’s task at near zero marginal cost. Their focus is on computer vision and insurance claims.
Tractable builds deep learning tools for visual inspection that can perform faster, cheaper and more accurately than humans. Their technology automates an expert’s task at near zero marginal cost. Their focus is on computer vision and insurance claims.
9
Country: USA | Funding: $88M
Fairmatic specializes in smartphone-powered driving safety analytics and calculates performance-based commercial auto insurance prices. Fairmatic applies AI to commercial auto insurance. Its app detects a crash automatically.
Fairmatic specializes in smartphone-powered driving safety analytics and calculates performance-based commercial auto insurance prices. Fairmatic applies AI to commercial auto insurance. Its app detects a crash automatically.
10
Country: USA | Funding: $75M
Cape Analytics leverages machine learning and geospatial imagery to identify property attributes at scale allowing insurance companies to provide more accurate quotes.
Cape Analytics leverages machine learning and geospatial imagery to identify property attributes at scale allowing insurance companies to provide more accurate quotes.
11
Country: Israel | Funding: $71M
Planck Re is an AI-based insurance data platform, built to enable insurers to instantly and accurately underwrite any business.
Planck Re is an AI-based insurance data platform, built to enable insurers to instantly and accurately underwrite any business.
12
Country: France | Funding: €60.3M
AKUR8 is a SaaS Insurtech specialized in Insurance pricing optimization with Transparent AI.
AKUR8 is a SaaS Insurtech specialized in Insurance pricing optimization with Transparent AI.
13
Country: USA | Funding: $46.5M
Pypestream’s Customer Engagement Solution enables businesses to connect with customers using the power of smart messaging, driving satisfaction and loyalty. The patented, secure and compliant platform combines pragmatic AI and chatbots to enable transactions over messaging.
Pypestream’s Customer Engagement Solution enables businesses to connect with customers using the power of smart messaging, driving satisfaction and loyalty. The patented, secure and compliant platform combines pragmatic AI and chatbots to enable transactions over messaging.
14
Country: Israel | Funding: $44.1M
Intelligo uses AI and machine learning to speed up and automate background checks. Its solution, Clarity, uses AI, machine learning, and text analytics to capture and analyze structured and unstructured data points from thousands of sources.
Intelligo uses AI and machine learning to speed up and automate background checks. Its solution, Clarity, uses AI, machine learning, and text analytics to capture and analyze structured and unstructured data points from thousands of sources.
15
Country: USA | Funding: $41.7M
Hi Marley is a developer of an artificially intelligent-based SMS texting platform designed to bridge the conversation.
Hi Marley is a developer of an artificially intelligent-based SMS texting platform designed to bridge the conversation.
16
Country: Israel | Funding: $32.3M
Windward is the leading Maritime AI company, enabling organizations to achieve business and operational readiness. Windward's AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business.
Windward is the leading Maritime AI company, enabling organizations to achieve business and operational readiness. Windward's AI-powered solution allows stakeholders including banks, commodity traders, insurers, and major energy and shipping companies to make real time, predictive intelligence-driven decisions, providing a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business.
17
Country: USA | Funding: $31M
Gradient AI provides underwriting and claims management solutions for group health, property, casualty, and workers' compensation insurers.
Gradient AI provides underwriting and claims management solutions for group health, property, casualty, and workers' compensation insurers.
18
Country: USA | Funding: $26.8M
Direct your patients to the healthcare resource they need, when they need it. Sensely intelligently connects your patients with clinical advice and services, enhancing access without compromising empathy.
Direct your patients to the healthcare resource they need, when they need it. Sensely intelligently connects your patients with clinical advice and services, enhancing access without compromising empathy.
19
Country: UK | Funding: $21.3M
AI powered Claims Automation & Fraud Filtering for Insurance
AI powered Claims Automation & Fraud Filtering for Insurance
20
Country: UK | Funding: $21.1M
Clausematch develops policy management platform that allows collaborate in real time, create, manage and track policies and procedures, and disseminate the latest versions throughout your organization from one place. Clausematch’s AI-powered platform provides end-to-end policy management and regulatory compliance solutions.
Clausematch develops policy management platform that allows collaborate in real time, create, manage and track policies and procedures, and disseminate the latest versions throughout your organization from one place. Clausematch’s AI-powered platform provides end-to-end policy management and regulatory compliance solutions.
21
Country: Singapore | Funding: $14.8M
Active.Ai has built an advanced, proprietary conversational AI platform that can be easily deployed for financial institutions, insurance companies and capital markets.
Active.Ai has built an advanced, proprietary conversational AI platform that can be easily deployed for financial institutions, insurance companies and capital markets.
22
Country: Canada | Funding: $13.8M
Lydia AI is an artificial intelligence platform for heath insurers.
Lydia AI is an artificial intelligence platform for heath insurers.
23
Country: USA | Funding: $7.5M
Autonomous voice agents powered by Real-time Voice AI to enhance customer experience and cut support costs
Autonomous voice agents powered by Real-time Voice AI to enhance customer experience and cut support costs
24
Country: USA | Funding: $6.2M
ClaimKit provides professional collection and organization of your claim files, and delivers them in an accessible web application for your convenience.
ClaimKit provides professional collection and organization of your claim files, and delivers them in an accessible web application for your convenience.
25
Country: China | Funding: $6.2M
Lingxi applies machine intelligence to financial services such as debt collection and insurance sales
Lingxi applies machine intelligence to financial services such as debt collection and insurance sales
26
Country: Croatia | Funding: $3.8M
SaaS Platform for Insurance companies looking to develop new Digital Portfolio of Products and Services.
SaaS Platform for Insurance companies looking to develop new Digital Portfolio of Products and Services.
27
Country: USA | Funding: $3.7M
Reply.ai is an enterprise platform does more than provide an enterprise solution to chatbot creation and management. It uses AI to help bots learn from conversations over time while also providing them with the “smarts” to let customer service know a more personal, “human” touch is needed. Acquired by Kustomer
Reply.ai is an enterprise platform does more than provide an enterprise solution to chatbot creation and management. It uses AI to help bots learn from conversations over time while also providing them with the “smarts” to let customer service know a more personal, “human” touch is needed. Acquired by Kustomer
28
Country: UK | Funding: $2.8M
Synthesized tries to reduce friction on preparing all the data that’s needed, to enable insurers to share data safely, complying with regulations. Synthesized's software uses AI to learn the structure of original data and simulate practically useful new data points, thus unleashing data's full potential whilst protecting people's privacy.
Synthesized tries to reduce friction on preparing all the data that’s needed, to enable insurers to share data safely, complying with regulations. Synthesized's software uses AI to learn the structure of original data and simulate practically useful new data points, thus unleashing data's full potential whilst protecting people's privacy.
29
Country: USA | Funding: $2.8M
Search engine for all of Earth's data for Defense, Property & Insurtech, Infrastructure organizations
Search engine for all of Earth's data for Defense, Property & Insurtech, Infrastructure organizations
30
Country: India | Funding: $2.6M
Artivatic Data Labs is an end-to-end AI infrastructure platform that is built on deep-tech, ML technologies with in-depth analogy of genomic science, psychology and neuroscience. It helps large enterprises, startups and developers to build and integrate intelligent products and solutions without any developmental efforts.
Artivatic Data Labs is an end-to-end AI infrastructure platform that is built on deep-tech, ML technologies with in-depth analogy of genomic science, psychology and neuroscience. It helps large enterprises, startups and developers to build and integrate intelligent products and solutions without any developmental efforts.
31
Country: USA | Funding: $2.4M
Basys.ai automates the process of prior authorization and utilization management for health plans/payers using an AI-based platform.
Basys.ai automates the process of prior authorization and utilization management for health plans/payers using an AI-based platform.
32
Country: France | Funding: $100K
Minalea created the first Smart Sales Assistant for insurance vendors.
Minalea created the first Smart Sales Assistant for insurance vendors.
33
Country: UK
Data science consultancy specialising in Natural Language Processing for Healthcare, Pharma, Legal, Insurance
Data science consultancy specialising in Natural Language Processing for Healthcare, Pharma, Legal, Insurance