Friendly provides AI-powered workflow automation solutions for the insurance and financial services industries. Their deep learning platform digitizes complex documents, automates full-cycle claim adjudication, and enables straight-through processing for new business.
Funding
$0 raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Insurance and financial service companies face challenges in efficiently processing complex documents and extracting relevant data, leading to time-consuming manual workflows and potential inaccuracies. This can result in delays in claim adjudication, underwriting, and other critical processes.
Solution
Friendly offers an AI-powered robotic cognition platform designed to automate document digitization, data extraction, and workflow automation for insurance and financial services. The platform leverages machine learning models to process various document types, including medical records, financial statements, and legal contracts. By automating these processes, Friendly aims to improve efficiency, reduce manual effort, and enhance accuracy in key operational areas such as underwriting, claims processing, and financial analysis. The platform integrates into existing workflows, providing a streamlined solution for managing and extracting insights from unstructured data.
Target Audience
The primary target audience includes insurance carriers, reinsurance companies, and financial institutions seeking to automate document processing and improve the efficiency of underwriting, claims, and other data-intensive workflows.
Features
- Automated digitization of complex documents with 95% accuracy
- HealthGrid summary report that transforms complex medical data into actionable insights
- Extraction and enrichment of data, including diagnosis, lab results, and vitals, mapped to medical codes (SNOMED, ICD-10, LOINC)
- PII anonymization using a deep-learning model to replace sensitive information while maintaining data integrity
- Multilingual support for processing documents in English, German, French, Canadian French, and Japanese
- Claim processing engine for workers' compensation, disability, critical illness, and supplemental benefits
- Treaty assistant to streamline treaty analysis and decision-making
- Secure cloud environment with advanced encryption and multi-layered access controls, adhering to HIPAA, GDPR, and SOC 2 guidelines
- Manual verification option for human review and validation of AI-processed data