DigitalOwl, a Tel Aviv, Israel- and NYC-based insurance technology company that utilizes advanced AI to interpret and transform medical records into a comprehensive and interactive digital underwriting abstract, received a $12M investment from RGA.
This capital raise, which brought its total funding to over $38M since its inception, aligns with a global partnership in the life and health insurance sector, integrating DigitalOwl’s technology as a core component into RGA’s internal underwriting operations
Led by CEO Yuval Man and CTO Amit Man, DigitalOwl provides a platform that enables insurance companies to enhance the speed and efficiency of medical document analysis and case summarization. Its solution automatically analyzes medical documents using artificial intelligence and natural language processing (NLP). In 2023, the company introduced a new solution to its clients based on a Generative AI model specifically designed for insurance-based medical case analysis, independently developed and trained over the past two years. This solution generates case summaries, documents, and medical events in an unrestricted language, capturing all nuances necessary for decision-making.
In 2024, the company plans to launch an insurance policy underwriting engine based on its self-developed Generative AI engine. The AI models mirror decision-making processes for organizations and policyholders, allowing for a detailed report on their activities with a click, aligning with evolving AI usage regulations. To train these models and develop the solution, RGA will provide experienced actuaries, claims adjusters, and legal experts to engage in the development process.
DigitalOwl currently employs 70 individuals in Israel and the United States.
FinSMEs
09/01/2024