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Industries
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Acquired
Total Funding
$5.8M
Headquarters
San Francisco, California
Founded
2018
Verikai provides a predictive data and risk platform specifically designed for the insurance industry. Its main product, Capture scores, uses AI and machine learning to analyze the behaviors of millions of individuals, offering insurers valuable insights for more accurate risk assessments. This helps improve the precision and efficiency of underwriting processes. Unlike many competitors, Verikai focuses solely on the insurance sector, tailoring its services to meet the unique needs of insurance firms. The company's goal is to enhance risk evaluation processes for insurers, ultimately driving profitable growth through a subscription-based model that ensures consistent value and revenue.
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Total Funding
$5.8M
Below
Industry Average
Funded Over
2 Rounds
SAN FRANCISCO--(BUSINESS WIRE)--Verikai, an industry innovator in health insurance, proudly announces the launch of CaptureHealth and Capture360, two groundbreaking solutions designed to revolutionize healthcare risk analysis. These offerings are part of the comprehensive Verikai platform. The CaptureHealth model provides a health-centric risk score by feeding comprehensive medical claim and health history data into Verikai's proprietary machine learning models. Capture360 adds hundreds of thousands of behavioral and social determinants of health (SDoH) factors to CaptureHealth in order to deliver the most accurate and comprehensive risk score in the market. Verikai's breakthrough scoring technology uniquely combines dozens of sources of curated medical and pharmaceutical data covering over 330 million Americans, with behavioral attributes and SDoH, offering unparalleled precision in health risk assessment. CaptureHealth and Capture360 collectively address longstanding industry challenges, offering concise and comprehensive views of claims histories while simplifying the task of assessing medical and pharmaceutical risks
Insurance technology startup Verikai is launching Med/Rx for carriers to run group reports through Verikai’s platform to establish a baseline of high-cost conditions and prescriptions that appear in each group. The Med/Rx report includes 10,000 of the most expensive medical diagnoses, including cancers, chronic illnesses, mental disorders, injuries, and drug abuse – to name a few. The Rx half of the report provides all known prescription data on a group, broken down by pricing category (generic, brand, and specialty drugs). As Med/Rx takes shape, Verikai will continue to update the product with additional medical conditions and deeper insights into price
Verikai is featured as #3 on the list as an innovative leader in insurance technology.
American Financial Group (NYSE: AFG) announced today the acquisition of Verikai, Inc. (“Verikai"), a machine learning and artificial intelligence company that utilizes a predictive risk tool for assessing insurance risk, effective December 2021.
CINCINNATI--(BUSINESS WIRE)--American Financial Group (NYSE: AFG) announced today the acquisition of Verikai, Inc. (“Verikai"), a machine learning and artificial intelligence company that utilizes a predictive risk tool for assessing insurance risk, effective December 2021. Verikai will continue to be led by its President and CEO, Jeff Chen. AFG paid approximately $120 million in cash at closing. Carl H. Lindner III, AFG’s Co-CEO, stated: “We are thrilled to welcome the Verikai team to AFG. We
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Industries
AI & Machine Learning
Financial Services
Company Size
11-50
Company Stage
Acquired
Total Funding
$5.8M
Headquarters
San Francisco, California
Founded
2018
Find jobs on Simplify and start your career today