NovaData Solutions offers Rest-Assured, an AI‑powered platform that automates the auditing of property restoration invoices for insurers, adjusters, brokers, and self‑insured entities. Users submit PDF invoices via email and receive discrepancy reports within 48 hours, typically identifying overcharges of more than 20%. The service is monetized through per‑invoice or subscription fees, delivering cost savings and faster claim cycles.
Funding
$6.4M 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
The manual auditing of property restoration invoices is slow, inconsistent, and prone to errors, leading to financial leakage due to overcharges and inaccuracies. Existing manual processes lack the speed and thoroughness required to efficiently identify billing anomalies in complex restoration invoices.
Solution
NovaData Solutions offers Rest-Assured, an AI-powered platform that automates the auditing of property restoration invoices to identify billing inaccuracies and overcharges. Clients submit invoices as PDFs and receive detailed audit reports within 48 hours, highlighting billing anomalies that require further review. The platform's AI/ML technology compares expense rates and ratios against industry norms, providing a neutral and consistent bill-review process. By automating the audit process, Rest-Assured delivers a faster, more efficient, and more thorough review than traditional manual methods, resulting in immediate ROI for clients.
Target Audience
The primary target audience includes insurance companies, MGAs, adjusting firms, TPAs, building consultants, and risk management professionals involved in property claims and restoration invoice processing.
Features
- AI/ML-powered platform for automated auditing of restoration invoices
- Identification of billing overcharges and errors, averaging over 20%
- 48-hour turnaround time for audit reports
- Detailed reports highlighting billing anomalies and discrepancies
- Comparison of expense rates and ratios against industry norms
- Turnkey service option including post-audit negotiation