Roots Automation, creator of AI-powered Digital Coworkers announced that the company has joined Guidewire’s Insurtech Vanguards program, an initiative led by property and casualty (P&C) cloud platform provider Guidewire .
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“Our vision is to make work more human for all insurance organizations, by bringing machine intelligence and human ingenuity together,” said Chaz Perera, CEO & Co-founder, Roots Automation. “The Vanguard program embodies this same vision by bringing forward-thinking insurers and innovative insurtechs together, to increase operational efficiency, improve margins and revolutionize the way work is managed.”
Insurtech Vanguards is a community of select start-ups and technology providers that are bringing innovative and business-critical solutions to the P&C industry. As part of the program, Guidewire provides strategic guidance to and advocates for the participating insurtechs, while connecting them with Guidewire’s P&C customers.
“Roots Automation has established a new category within the insurtech space through AI-powered Digital Coworkers,” said Laura Drabik, Chief Evangelist, Guidewire. “Digital Coworkers leverage advanced, proprietary artificial intelligence (AI) – including their recently announced InsurGPT – to ingest, analyze and process documents and data across claims, underwriting and insurance operations. We are very excited to have Roots onboard.”
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Today, leading insurance organizations are working with Roots Automation and realizing significant value through their Digital Coworkers, including:
- 80%+ of claims setup (including FNOL) handled by a Digital Coworker for a leading carrier;
- 99% straight-through processing rates for a global TPA;
- 90%+ accuracy when dealing with unstructured broker submissions for a large carrier; and
- 30 seconds to analyze, classify and extract data from claims and underwriting documents (down from 24 hours) for an insurance conglomerate.
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