INSUBCONTINENT EXCLUSIVE:
Leading the round is Amadeus Capital Partners, with participation from Playfair Capital, and Techstars.Founded in 2018, Sprout.ai has
Specifically, it uses natural language processing and optical character recognition to understand unstructured insurance claim data, and
then combines this with real-time external data such as weather, geolocation, business and medication information, to automate claims or
co-founder and CEO Niels Thone tells me
This is mainly caused by a lack of information at the start of the claims journey and a lot of manual touch points throughout the journey
start of the claims process, and then is able to automatically validate incoming claims and predict the next necessary steps in the
process.This sees the big bulk of claims sent straight through for processing, resulting in them being settled in record time
structure this data as well as leverage it for further claims verification
Sprout.ai has developed proprietary algorithms in both the OCR and NLP fields to enable very accurate and fast extraction of this underlying
explains.Meanwhile, Sprout.ai, which was previously called BlockClaim, says it will use the investment to further build out its data science
and engineering team, and expand its sales operations
startup is also making plans for United States expansion.
