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Top 34 Startups developing AI for Insurance
Nov 23, 2024 | By Siddhant Patel | 24 |
These startups use AI and ML 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: $2.9B
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: $242M
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: France | Funding: €166.6M
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.
10
Country: USA | Funding: $123.2M
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.
11
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.
12
Country: USA | Funding: $80M
Federato fixes insurance risk analysis with AI. It provides a RiskOps platform that streamlines underwriting processes for insurance carriers, MGAs and MGUs.
Federato fixes insurance risk analysis with AI. It provides a RiskOps platform that streamlines underwriting processes for insurance carriers, MGAs and MGUs.
13
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.
14
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.
15
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.
16
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.
17
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.
18
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.
19
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.
20
Country: UK | Funding: $21.3M
AI powered Claims Automation & Fraud Filtering for Insurance
AI powered Claims Automation & Fraud Filtering for Insurance
