Sprout.ai

🌟 Sprout.ai has raised £5.4m from global investors to transform claims processing! 🌟 With our vision to 'Make every claim better' this round led by Amadeus Capital Partners and Praetura Ventures will allow us to continue to invest in product innovation and AI, drive forward our go-to-market strategy and accelerate growth. Thank you to Capricorn Capital Partners UK, Forefront Venture Partners, Verstra Ventures and Portfolio Ventures Angel Fund who also joined this round, as well as the continued support of our existing investors, Octopus Ventures, Playfair and Techstars. https://lnkd.in/egdEkz3f

Underwriting can be complex and time-consuming, especially with unstructured data like medical or financial records. Sprout.ai can streamline the process, reduce manual tasks, and make faster, more informed decisions. 🚀 Here’s how we help: - Data collection & extraction: Automate the gathering and processing of key information. - Decision support: Highlight crucial data for quicker risk assessments. - Risk assessment: AI-driven insights for thorough reviews. - Underwriter action: Empower underwriters to make final decisions with all data at hand. Read our latest blog to find out how we are transforming underwriting and helping insurers boost efficiency, cut costs, and improve accuracy: https://lnkd.in/e-QhxKMZ #AI #Insurtech #Automation #Underwriting #Innovation

We're looking forward to the I Love Claims Summer Networking Event in London this Thursday. If you are also attending, please reach out to Ricardo Martins and Oliver Savage, they would love to connect! #ILoveClaims #Claims #Insurance #Technology #Insurtech

The insurance industry’s slow response to new technology is well documented, but the power of AI should be embraced. Imagine a world where claims are processed faster and more accurately, where fraud detection is almost foolproof, and where customers get the experience they deserve. That world is within reach but requires strong leadership from the top. It's up to us at the C-Suite level to drive this change, ensuring AI is used strategically across our organisations to unlock its full potential. The future of insurance is bright, but we need to innovate with purpose and direction. It was great to share my thoughts with Insurance-Edge.Net. You can read the full article here: https://lnkd.in/dK67wB6g #Innovation #AI #Insurance #DigitalTransformation #Leadership #CustomerExperience

AI is reshaping the insurance industry, with the market set to grow from $11.33 billion in 2024 to $49.3 billion by 2032. Sprout.ai's intelligent solution integrates seamlessly with your existing systems, tackling key challenges including: ⏱️ Speed & efficiency: Cut document processing time from hours to seconds ✅ Accurate Decisions: Analyse up to 180 data points per claim for precise decision-making 🕵🏻 Fraud detection: Spot and eliminate fraud, reducing financial losses. 📄 Policy checking: Automate policy validations for quicker resolutions. Sprout.ai empowers insurers to handle complex claims swiftly and accurately, boosting customer satisfaction and reducing costs. 🚀 Read our latest blog post to find out how Sprout.ai can transform claims processing - https://lnkd.in/eg6CkyeW #AI #ClaimsAutomation #Insurtech #Innovation

The integration of AI in insurance isn't just something on the horizon—it's happening now. I read an piece recently by Be’eri Mart who raised some interesting points. - Unlocking AI’s true potential AI is doing more than just automating tasks—it’s reshaping how we operate. We can create personalised insurance products, respond to market changes in real-time, and ultimately serve our customers better. - Predictive models: Changing the game Predictive models are no longer a nice-to-have—they’re becoming essential. By analysing data, these models help us make smarter decisions, plan more effectively, and stay ahead of the competition. - Keeping AI accountable As we integrate AI into more aspects of our operations, we must do so responsibly. It’s not just about accuracy; it’s about being transparent, fair, and ethical in how we use data. At Sprout.ai, we’re committed to using AI in ways that benefit our customers and our industry. The journey with AI is just beginning, and as Be’eri points out, our focus should be on responsible, outcome-driven applications. AI should not only drive innovation but elevate the standard of service in insurance. You can read the full article here: https://lnkd.in/e4dqMFPC #Innovation #Insurance #Insurtech #AI

Unlike general-purpose models like ChatGPT, Sprout.ai focuses on automating the claims process, fraud detection, and real-time data analysis that is tailored to the unique needs of insurers. Here's how we do it: 📄 Document processing: We extract and process data from documents, images, and handwritten notes. ⏱️ Contextual analysis: Real-time analysis speeds up decision-making, reducing processing times to under 24 hours. 🕵🏻 Fraud detection: Advanced AI detects anomalies, cutting down on fraudulent claims. The results: - 48% cost reduction - 22 days faster claim duration - 50% increase in automation Learn more in our latest blog post: https://lnkd.in/ejhPufq5

Thrilled to hear that Sprout.ai have been named in City AM's list of London’s top Insurtech companies! 👏 🚀 🙌 Read the full article here: https://lnkd.in/gxphdSgQ #Innovation #Insurtech #Claims

We’re excited to share that Sprout.ai has been featured in the claims and fraud management category of CNBC's list of 'The world's top 150 Insurtech companies for 2024'! 🚀 Thank you CNBC and Ryan Browne! 🙌 🔗 Read more here: https://lnkd.in/gXTCAv8e  #Insurtech #CNBCTop150 #innovation #insurance #claims

Although it was great to see Gallagher Re reporting on the 40% jump in global Insurtech funding for Q2, there’s still so much work we need to do. Deepfakes in fraud and the risk of excluding some customers with AI models are real concerns. We want to make sure that we’re using AI responsibly, ensuring it supports claims teams without replacing the human touch when needed. The promise of personalised pricing is interesting but this is something that needs to be handled with care to ensure fairness and inclusivity. At Sprout.ai, we've always believed in AI's power to transform insurance and whilst AI can help spot deepfakes, we must stay vigilant in our approach. Carolyn Cohn thanks for the article! You can read the full story here: https://lnkd.in/ehNCC2kY #Insurance #Insurtech #innovation #AI