Gradient AI, a Phoenix, PA-based enterprise software provider of artificial intelligence (AI) solutions in the insurance industry, acquired Prognos Health’s analytics business underwriting unit.
The amount of the deal was not disclosed.
With the acquisition, Gradient AI will leverage data from the company’s large collection of integrated medical records and lab data via its real-world data marketplace and expand its medical database capabilities by integrating Prognos Health’s data with SAIL, its medical underwriting solution.
Based in NYC, Prognos Health is focused on enabling data accessibility for everyone by leveraging technology and clinical experience. The company allows data to flow freely and helps organizations make the best data-informed decisions by simplifying and streamlining access to fit-for-purpose, multi-dimensional real-world data sets. Prognos is a real-world data marketplace with integrated RWD on 325M patients. All data purchased is available on the Datavant token, making it interoperable with other patient-level data that has been tokenized using Datavant.
Led by CEO Stan Smith, Gradient AI is a provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Gradient’s software-as-a-service (SaaS) platform leverages a vast dataset comprised of tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic and demographic information. Customers include some of the most recognized insurance carriers, MGAs, TPAs, risk pools, PEOs and large self-insureds across all major lines of insurance.
FinSMEs
10/10/2022