EvolutionIQ

EvolutionIQ

AI software for insurance claims handling

About EvolutionIQ

Simplify's Rating
Why EvolutionIQ is rated
B
Rated D+ on Competitive Edge
Rated A on Growth Potential
Rated A on Differentiation

Industries

Enterprise Software

AI & Machine Learning

Financial Services

Company Size

201-500

Company Stage

Late Stage VC

Total Funding

$60.3M

Headquarters

New York City, New York

Founded

2019

Overview

EvolutionIQ offers software solutions for the insurance industry that enhance claims handling through artificial intelligence. The software helps examiners and adjusters identify the right claims to address, improving efficiency and accuracy in processing Disability, Workers' Compensation, and General Liability claims. Unlike traditional methods, EvolutionIQ's AI predicts claim trajectories earlier, leading to a higher rate of Return to Work outcomes. The company's goal is to streamline the claims process, benefiting both insurers and claimants.

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Simplify's Take

What believers are saying

  • Partnership with HEMIC enhances claims management with AI-driven insights.
  • Acquisition by CCC Intelligent Solutions expands market reach and resources.
  • AI-driven predictive analytics in claims management is gaining industry traction.

What critics are saying

  • Integration challenges with CCC may disrupt operations and client relationships.
  • Regional market risks in Hawaii could impact EvolutionIQ's partnership with HEMIC.
  • Resistance to MedHub may slow its adoption among claims professionals.

What makes EvolutionIQ unique

  • EvolutionIQ uses AI to guide claims examiners, improving efficiency and accuracy.
  • The platform predicts claim trajectories earlier, enhancing Return to Work outcomes.
  • MedHub integrates medical summarization, streamlining claims decision-making for professionals.

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Funding

Total Funding

$60.3M

Above

Industry Average

Funded Over

4 Rounds

Notable Investors:
Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Disability Insurance

401(k) Company Match

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Hybrid Work Options

Stock Options

Company Equity

Professional Development Budget

Home Office Stipend

Growth & Insights and Company News

Headcount

6 month growth

↑ 3%

1 year growth

↑ 2%

2 year growth

↑ 5%
PR Newswire
Feb 28th, 2025
Hemic Partners With Evolutioniq To Transform Claims Management With Ai-Driven Innovation

NEW YORK, Feb. 26, 2025 /PRNewswire/ -- EvolutionIQ, the market-leading Claims Guidance platform, today announced a new partnership with Hawaii Employers' Mutual Insurance Company (HEMIC), Hawaii's trusted provider of workers' compensation insurance. The collaboration will enhance HEMIC's commitment to improving outcomes for injured workers while delivering unparalleled service to Hawaii's businesses.HEMIC's core mission is to support the local community by providing essential workers' compensation coverage, improving the safety of policyholders' workplaces, and helping injured workers recover and return to work. Guided by this purpose, HEMIC conducted a detailed search for next generation solutions to empower their claims teams with AI-powered insights, ultimately selecting EvolutionIQ for its market-leading claims insights, seamless Guidewire ClaimCenter integration, and full-service change management approach.Under this partnership, HEMIC will deploy EvolutionIQ's Claims Guidance and Medhub Active Medical Summarization across its claims operations to enhance the efficiency and efficacy of claim analysis and management. EvolutionIQ's platform is purpose-built to empower HEMIC's claims team with AI-driven alerts, summarized insights, and supportive recommendations to improve the claim journey for employers and injured workers."Our mission is to serve Hawaii's businesses and workers by ensuring fair, compassionate, and efficient claims processes," said Tammy Teixeira, senior vice president of HEMIC. "Partnering with EvolutionIQ allows us to take that mission to the next level

FF News
Feb 28th, 2025
Hemic Partners With Evolutioniq To Transform Claims Management With Ai-Driven Innovation

EvolutionIQ, the market-leading Claims Guidance platform, today announced a new partnership with Hawaii Employers’ Mutual Insurance Company (HEMIC), Hawaii’s trusted provider of workers’ compensation insurance. The collaboration will enhance HEMIC’s commitment to improving outcomes for injured workers while delivering unparalleled service to Hawaii’s businesses.HEMIC’s core mission is to support the local community by providing essential workers’ compensation coverage, improving the safety of policyholders’ workplaces, and helping injured workers recover and return to work. Guided by this purpose, HEMIC conducted a detailed search for next generation solutions to empower their claims teams with AI-powered insights, ultimately selecting EvolutionIQ for its market-leading claims insights, seamless Guidewire ClaimCenter integration, and full-service change management approach.Under this partnership, HEMIC will deploy EvolutionIQ’s Claims Guidance and Medhub Active Medical Summarization across its claims operations to enhance the efficiency and efficacy of claim analysis and management. EvolutionIQ’s platform is purpose-built to empower HEMIC’s claims team with AI-driven alerts, summarized insights, and supportive recommendations to improve the claim journey for employers and injured workers.“Our mission is to serve Hawaii’s businesses and workers by ensuring fair, compassionate, and efficient claims processes,” said Tammy Teixeira, senior vice president of HEMIC. “Partnering with EvolutionIQ allows us to take that mission to the next level. After an extensive search for an AI partner, we chose EvolutionIQ for their cutting-edge technology and their hyper focus on supporting our claims staff and facilitating better claim outcomes.This collaboration underscores HEMIC’s long-term commitment to innovation and community impact

WorkCompWire
Jan 6th, 2025
CCC Acquires EvolutionIQ for $730M

CCC Intelligent Solutions Inc. announced its acquisition of EvolutionIQ for $730 million, to be paid with 40% CCCS common stock and 60% cash, including a $225 million term loan. The acquisition aims to enhance CCC's AI-powered SaaS platform with EvolutionIQ's AI capabilities for disability and injury claims management. The transaction is expected to close in Q1 2025. CCC also authorized a $300 million share repurchase program.

Claims Journal
Dec 20th, 2024
CCC Intelligent Solutions Acquires EvolutionIQ for $730M

CCC Intelligent Solutions acquires EvolutionIQ for $730M.

Foundation Capital
Dec 20th, 2024
Celebrating a Remarkable Milestone: EvolutionIQ has been acquired by CCC Intelligent Solutions for $730 million

I first invested in EvolutionIQ's seed financing in 2019 alongside First Round Capital.

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EvolutionIQ is Hiring for 17 Jobs on Simplify!

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$0 - $250k/yr

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Compliance & Audit Analyst

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EvolutionIQ is Hiring for 17 Jobs on Simplify!

Find jobs on Simplify and start your career today

💡
We update EvolutionIQ's jobs every few hours, so check again soon! Browse all jobs →