Stories: EIC-funded company omni:us eyes major opportunity in Latin America insurance market
The insurance-focused artificial intelligence (AI) solution has announced a partnership with Rokk3r, a global innovation technology and consulting company, to enable the company to enter the Latin American insurance market and roll out its AI-driven services to insurance companies based in the region.
In 2019, the Berlin-based start-up began building a presence in the US and Canada with the appointment of Rupin Mago as Vice President in North America. This year, the company’s expansion is continuing despite the economic fallout from the coronavirus outbreak. omni:us is aiming for stronger sales in Latin America and already closed the first partnership to boost its business.
omni:us is an artificial intelligence (AI) software as a service (SaaS) provider specializing in the insurance industry. The start-up uses AI to help insurance companies get a deeper understanding of their business and customers to help them launch data-driven new products and services. Its modular approach supports numerous use cases, enabling a painless, fluid customer claim journey and quantifiably increasing customer satisfaction, while optimizing process costs and reducing leakage.
Together with Rokk3r, omni will help insurers enabling clean data at the start of the claims process by automating document intake. The solution will reduce manual efforts related to intensive data tasks and empower core business with decision support and insights.
“We have been very impressed by Rokk3r’s eco-system, which combines human and machine intelligence systems to enable companies to scale quickly,” said the VP Rupin Mago. “We value the agility and entrepreneurial flair of Rokk3r, and we are convinced it will help omni:us to scale as we enter the Latin American insurance market, as well as accelerating our planned growth in North America.”
omni:us provides flexibility of customization to the insurer’s business and systems landscape as it works seamlessly with legacy as well as contemporary technologies. The German insurtech is proud to count Allianz, Baloise, AmTrust, and wefox among its clients. The company is headquartered in Berlin, with a research partnership in Barcelona and representations in the UK, France and the United States.
“We believe omni:us is on a class of its own with regards to their technology as well as with the space in which their products add value to our industry. Claims is the single biggest savings contributor to an insurance company P&L, so the opportunities are worth pursuing,” added Hilario Itriago, Managing Director of Rokk3r Insurtech.
The omni:us founder and CEO Sofie Quidenus-Wahlforss was featured on Forbes’ 2018 Top 50 Women in Tech. Quidenus-Wahlforss sits on the German Government advisory board for advanced technology and artificial intelligence, and she is a regular speaker at high-profile events.
The partnership with Rokk3r is announced a couple of months after the $13 million Series A investment round led by Viola FinTech, CommerzVentures and UNIQA Ventures. Last year, the company received a €1.6 million Phase 2 Grant from the European Innovation Council to continue its research, expand the team, and build a global reputation in the insurance industry.