EvolutionIQ Debuts AI-Powered Technology Aimed At Lowering Insurance Claims Costs

EvolutionIQ Debuts AI-Powered Technology Aimed At Lowering Insurance Claims Costs-01

EvolutionIQ has developed the insurance industry’s first human-in-the-loop artificial intelligence (AI) claims guidance tool. The three-year-old business announced a 21 million USD series A investment round to develop a deep learning system. 

According to the company, the deep learning they’re developing will be accomplished through the use of Artificial Intelligence recurrent neural networks (RNN), which are based on time-series data or data involving sequencing. 

The series A funding round was led by Brewer Lane Ventures, along with Altai Ventures, Asymmetric Ventures, Reliance Standard Life, New York Life Ventures, Guardian Life, and Sedgwick, seed investors FirstRound Capital, FirstMark Capital, and Foundation Capital.

Read More: https://venturebeat.com/2022/04/12/evolutioniq-unveils-its-ai-driven-tech-to-reduce-the-cost-of-insurance-claims/

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