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

The Christmas season may bring joy, but it also brings a rise in insurance claims. 🎄 🎅 From spilt wine on carpets to water damage from burst pipes, seasonal incidents can overwhelm insurers. Combined with staffing challenges and increased fraud risks, claims departments face pressure to deliver timely, accurate resolutions. Sprout.ai helps insurers to tackle these challenges with speed and precision. ✅ Real-time claims processing – Instantly resolve straightforward claims, like toppled TVs or damaged decorations, reducing backlogs. 🔍 Enhanced fraud detection – Identify suspicious patterns, such as inflated claims for high value gifts or repeated serial numbers. 📈 Scalable claims management – Handle surges caused by weather events or festive mishaps without overburdening teams. 🌎 Multi-language support – Process claims from global holiday travellers seamlessly. 👉 Read more: https://lnkd.in/eewFMK5f #Innovation #Claims #Insurtech #Insurance #FraudPrevention

Our latest blog explores how to build trust when using AI in claims, featuring insights from insurance professionals and actionable strategies. We cover: - Why transparency and explainability matter in claims processes - How to balance automation with a human touch - The role of ethics and data security in fostering trust - Advice from insurance leaders shaping AI adoption "Transparency is key. Customers need to understand how decisions are made to feel confident in the technology." 🔗 Read the full blog here: https://lnkd.in/g9N8d7FZ #Insurtech #Innovation #Claims #Insurance

The insurance industry requires a revolution. Head of Product & Solution Engineering Greg Adams highlights in ITIJ: International Travel & Health Insurance Journal that traditional claims processes no longer meet customer expectations. With 43% of claims taking over two weeks to resolve, AI solutions like claims triage and automated approvals make claims processes more efficient and rebuild trust. Collaboration between insurers and insurtechs is needed to unlock true potential. Read the full article here: https://lnkd.in/eWEiRyUC #Insurtech #AI #Claims #Innovation #Insurance

Processing insurance claims in character-based languages like Japanese can be challenging. Head of APAC, Hiroshi Kinoshita recently spoke with Asia Insurance Review and shared insights on how Sprout.ai are transforming claims processing for character-based languages like Japanese. Our AI transforms unstructured and handwritten data into actionable insights, cutting claim settlement times from 70 days to near real-time. We're helping insurers in Asia to deliver faster, fairer outcomes while driving down costs and enabling financial inclusion. 👉 Read the full article here: https://lnkd.in/gujK4Fbr #AI #Insurtech #AsiaInnovation #Automation #Claims #Insurance

Session Highlight: The Role of AI in Claims Processing with the magician Roi Amir from Sprout.ai With a grand entrance, Roi introduced the latest advancements in AI for claims processing. He discussed how AI algorithms are transforming claims handling by reducing processing time, improving accuracy, and supporting fairer, faster resolutions. Roi’s session provided a look at the future of insurance, where AI enhances efficiency and customer satisfaction, setting a new standard for claims processing. #AI #ClaimsProcessing #Insurtech #ELHUA #InsuranceInnovation #ConferenceRecap

🛠 Want to streamline your claims operations with AI? Our new whitepaper dives into first-hand insights from 20 claims leaders on how AI is transforming claims processes—from automation to fraud prevention. 🔍 Learn what works, what doesn’t, and how to maximise AI’s potential! 🚀 🔗 Download the report now: https://lnkd.in/eW7CAX4Q #AI #insurance #digitaltransformation

Just 37.3% of UK finance and insurance firms are innovating. This places the sector amongst the least innovative industries. Innovation drives profitability, with 60.5% of revenue in innovative businesses stemming from new products or processes. Insurers face barriers like outdated technologies, a risk-averse culture, and skill shortages, challenges that hinder their ability to adapt and grow. As Sopro’s Rob Harlow says: “Innovation improves services, problem-solving, and overall performance. Businesses that embrace change gain a competitive edge.” Read more here: https://lnkd.in/esCqnh8R #Innovation #Insurance #DigitalTransformation #Growth

📊 47% of claims handlers have spotted suspicious documents in claims worth £501 to £1,000, which they suspect to be AI-generated or altered. Meanwhile, 19% believe up to 25% of claims involve fake documents created with AI. 🤖 The landscape is changing fast. Are you prepared? Download a copy of our research report: https://lnkd.in/eX_QxzTU #Insurance #Fraud #Innovation #AI

AI is transforming underwriting by empowering people. I’ve seen how AI tools free underwriters from repetitive tasks, giving them the time and headspace to focus on what really matters; Building stronger relationships and solving complex problems. As Dan Martin from Markel International discussed with Insurance Times, AI allows underwriters to spend more time on strategic conversations with brokers and clients. That’s the future of the insurance industry, humans and technology working together. Insurers should embrace AI as a partner rather than fearing it. https://lnkd.in/ens2yfWd #AI #Underwriting #Insurtech #Innovation