DigitalOwl Secures $12M Investment from RGA, Total Funding Over $38M, for Advancing AI in Insurance Underwriting
DigitalOwl is at the forefront of revolutionizing insurance technology.
Company Name: DigitalOwl
Location: Tel Aviv, Israel, and NYC
Sector: Insurance Technology
Funding Details: Received a $12M investment from RGA, bringing total funding to over $38M. This investment coincides with a global partnership in the life and health insurance sector, integrating DigitalOwl's technology into RGA's underwriting operations.
Purpose of Investment: To enhance DigitalOwl's AI-driven platform for medical document analysis and underwriting in the insurance industry.
Leadership: CEO Yuval Man and CTO Amit Man
Product: An AI-based platform that interprets and digitalizes medical records for insurance underwriting, using advanced artificial intelligence and natural language processing (NLP).
About Company: DigitalOwl is at the forefront of revolutionizing insurance technology. The company specializes in converting medical records into comprehensive digital underwriting abstracts. In 2023, DigitalOwl introduced a Generative AI model tailored for insurance-based medical case analysis, capable of generating unrestricted language summaries and documents.
Upcoming Developments:
- Launch of an insurance policy underwriting engine in 2024, based on their self-developed Generative AI engine.
- Collaboration with RGA's experts to further enhance the AI models, aligning with evolving AI regulations.
Workforce: Currently employs 70 individuals across Israel and the United States.