About owl.co

Owl is an AI-driven insurance claims monitoring platform that automates document processing and data extraction to identify non-eligible claims services. By leveraging external data sources, it enhances decision-making accuracy and efficiency, reducing fraud and ensuring compliance in the claims process.

```xml <problem> Insurance claims processing is often slow, manual, and prone to errors, leading to increased costs and potential fraud. Extracting relevant information from unstructured documents and disparate data sources is a significant challenge for claims adjusters and examiners. Inefficient processes can also result in inconsistent claim evaluations and missed opportunities for fraud detection. </problem> <solution> Owl provides an AI-powered claims intelligence platform that automates document processing, data extraction, and analysis to improve the accuracy and efficiency of insurance claims management. The platform leverages machine learning to identify risks, detect discrepancies, and prioritize claims for review. By integrating external data sources and applying advanced analytics, Owl enables insurers to make faster, fairer, and more evidence-based decisions. The platform offers a suite of tools for document review, fraud detection, and compliance, helping insurance teams reduce costs, mitigate risks, and improve customer service. </solution> <features> - AI-powered document processing for automated data extraction from medical records, legal papers, and other claim-related documents - Integration with 120B+ public data sources and 50M+ new sources annually to enrich claimant information and validate claim details - Machine learning models for actionable insights, risk scoring, and fraud detection - Customizable workflows and rules engines to adapt to specific insurance lines of business and team needs - Generative AI to summarize document information, answer custom queries, and build comprehensive reports - Real-time monitoring of claimant activities and identification of potential fraud schemes - Secure and compliant data storage with SOC2 Type II, HIPAA, CCPA, and GDPR compliance </features> <target_audience> Owl's primary customers are insurance carriers, third-party administrators (TPAs), and self-insured organizations across various lines of business, including group disability, workers' compensation, and bodily injury. </target_audience> ```

What does owl.co do?

Where is owl.co located?

owl.co is based in Vancouver, Canada.

When was owl.co founded?

owl.co was founded in 2018.

How much funding has owl.co raised?

owl.co has raised 38964727.

Location

Vancouver, Canada

Founded

2018

Funding

38964727

Employees

86 employees

Major Investors

Plug and Play, Inovia Capital, Cota Capital, FUSE, Builders VC

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owl.co

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Executive Summary

owl.co 10K+

Crunchbase

Founded 2018 – Vancouver, Canada

Funding

Estimated Funding

$20M+

Major Investors

Plug and Play, Inovia Capital, Cota Capital, FUSE, Builders VC

Team (75+)

No team information available.

Company Description

Problem

Insurance claims processing is often slow, manual, and prone to errors, leading to increased costs and potential fraud. Extracting relevant information from unstructured documents and disparate data sources is a significant challenge for claims adjusters and examiners. Inefficient processes can also result in inconsistent claim evaluations and missed opportunities for fraud detection.

Solution

Owl provides an AI-powered claims intelligence platform that automates document processing, data extraction, and analysis to improve the accuracy and efficiency of insurance claims management. The platform leverages machine learning to identify risks, detect discrepancies, and prioritize claims for review. By integrating external data sources and applying advanced analytics, Owl enables insurers to make faster, fairer, and more evidence-based decisions. The platform offers a suite of tools for document review, fraud detection, and compliance, helping insurance teams reduce costs, mitigate risks, and improve customer service.

Features

AI-powered document processing for automated data extraction from medical records, legal papers, and other claim-related documents

Integration with 120B+ public data sources and 50M+ new sources annually to enrich claimant information and validate claim details

Machine learning models for actionable insights, risk scoring, and fraud detection

Customizable workflows and rules engines to adapt to specific insurance lines of business and team needs

Generative AI to summarize document information, answer custom queries, and build comprehensive reports

Real-time monitoring of claimant activities and identification of potential fraud schemes

Secure and compliant data storage with SOC2 Type II, HIPAA, CCPA, and GDPR compliance

Target Audience

Owl's primary customers are insurance carriers, third-party administrators (TPAs), and self-insured organizations across various lines of business, including group disability, workers' compensation, and bodily injury.