Agentech, the global AI support workforce for insurance claims, is excited to announce the successful completion of its $3 million seed round in just 30 days. This significant milestone is being announced at Naphia Engage 2024 in Phoenix, a premier event for innovation and emerging global technologies in the pet insurance industry.
Co-founded by insurtech and fintech veterans Robin Roberson and Alex Pezold, who previously exited tech ventures totaling $182 million, Agentech leverages cutting-edge, multimodal Large Language Model (LLM) capabilities to tackle the labor intensive, subjective, and outdated claims process. The company’s AI-driven ensemble of agents automates the mundane and repetitive tasks typically handled by desk adjusters, allowing carriers to experience a 4x increase in output without incurring additional labor costs (and making the claim handler happier, too!). With over 100 expertly trained digital Agentic agents supporting a single claim file, desk adjusters receive salient information at key decision points, enabling them to focus on higher-value tasks.
“This successful seed round demonstrates strong investor confidence in our leadership and Agentech’s ability to fundamentally transform the insurance claims process,” said Alex Pezold, Co-Founder and CEO of Agentech.” Our AI solutions are already delivering measurable results, with design partners seeing an impressive improvement in productivity, cost efficiency, and customer satisfaction.”
Boosting Claim Output and Accuracy with AI-Driven Agentic Solutions
Agentech’s AI support workforce integrates seamlessly into insurers’ existing claims management systems, resulting in little to no change management.
By automating routine time-consuming tasks such as document review, compliance checks, and data extraction across multiple platforms and from multiple parties, Agentech reduces claim cycle times, increases accuracy, and allows desk adjusters to focus on high-value decision-making and customer service.
Key benefits of the Agentech platform include:
- 3-4x increase in claims throughput without added labor
- Up to 50% reduction in manual, repetitive tasks
- Improved accuracy and compliance
- Faster claims processing and enhanced customer satisfaction
Growth and Expansion
With the seed funding secured, Agentech is poised to expand its capabilities within the insurance claims workflow, targeting adjacent processes such as FNOL, reserving, file review, and more. The company plans to build on its initial success, bringing transformative AI-driven solutions to other areas of insurance and claims handling.
“The speed at which we secured funding speaks volumes about the market’s recognition of the problem Agentech is solving,” said Robin Roberson, Co-Founder and President of Agentech. “Our AI agents are doing more than automating processes—they are empowering claim handlers to work smarter, faster, and more accurately.”
Attendees at Naphia Engage 2024 can meet with Agentech team members to learn more about how AI is reshaping claims processing and to see a live demo of the company’s solutions in action.
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