Full-Time
Confirmed live in the last 24 hours
AI software for insurance claims handling
$270k - $300kAnnually
Senior, Expert
H1B Sponsorship Available
New York, NY, USA
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EvolutionIQ creates software for the insurance industry that enhances the claims handling process using artificial intelligence. The software helps insurance examiners and adjusters identify the right claims quickly, improving efficiency and accuracy, particularly for Disability, Workers' Compensation, and General Liability claims. Unlike competitors, EvolutionIQ's AI can predict claim trajectories earlier, leading to better Return to Work outcomes. The company's goal is to streamline the claims process, making it easier for insurers to assist claimants.
Company Size
201-500
Company Stage
Late Stage VC
Total Funding
$58.7M
Headquarters
New York City, New York
Founded
2019
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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.
CCC Intelligent Solutions acquires EvolutionIQ for $730M.
I first invested in EvolutionIQ's seed financing in 2019 alongside First Round Capital.
CCC Intelligent Solutions (NASDAQ: CCCS) is acquiring EvolutionIQ for $730 million, with 40% in CCCS stock and 60% in cash, funded by cash on hand and a $225 million term loan. The deal, expected to close in Q1 2025, expands CCC's market into disability and injury claims management. CCC also announced a $300 million share repurchase program, reflecting confidence in the acquisition's benefits. EvolutionIQ's AI capabilities will enhance CCC's existing auto casualty platform.
The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.The reader should not assume that the information is accurate and complete.
LNC had earlier partnered with EvolutionIQ in 2023 to enhance the long-term disability business.
RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE:LNC) today announced the expansion of its efforts to enhance disability insurance claims processes with human-in-the-loop artificial intelligence (AI) technology, leading to better disability claims management analytics, improved claim guidance to assist claimants in their return-to-work journeys and streamlined processes to deliver more value to customers. The enhanced process implemented by Lincoln uses AI to analyze claims data and extract critical insights. This analysis helps support more accurate claim outcomes by providing claims professionals with timely insights that help them better assist claimants in their return-to-work journeys. “We are focused on investing in innovations and the latest capabilities to drive the best claim outcomes for our customers,” said Christen White, SVP, Lincoln Financial Group Protection Claims and Operations. “Partnering with a technology leader in this space is a part of that investment and has quickly advanced our ability to provide claimants with even better support and resources for their recovery and to return to work. Implementing this new technology helps our claims specialists efficiently focus on the right claims at the right time — all so that we can make the best determinations for our claimants.”
Streamlining Claims Decision-Making: EvolutionIQ Addresses Challenges Working with Medical Data in Claims Handling ProcessNEW YORK, April 23, 2024 /PRNewswire/ -- EvolutionIQ, the market-leading Claims Guidance platform for Disability and Workers' Compensation lines of insurance, today announced the release of MedHub , an AI-powered medical summarization and synthesis solution integrated into EvolutionIQ's platform, creating a single workspace for claims professionals that streamlines process, gathers insights, and empowers teams to make high-impact decisions quicker and more confidently.Why it MattersDeciphering vast amounts of medical data from disparate sources has long been a laborious and error-prone task for claims teams. Complex comorbidities and a team's varied levels of medical expertise often result in prolonged claim durations and process inefficiencies.What's NewMedHub changes the status quo by introducing a groundbreaking approach to consuming medical information within the EvolutionIQ ecosystem. Tailored specifically for claims teams, MedHub seamlessly ingests, processes, and extracts relevant insights from hundreds of pages. It empowers claims professionals to leverage medical documentation more effectively by considering claim-specific, clinical contexts. MedHub works with existing EvolutionIQ features to expedite decision-making, reduce claim resolution times, and improve claimant experience."MedHub enhances our claims professionals' ability to deeply understand their claimants' medical circumstances, and be a partner on their return to health journey. Using it inside our existing EvolutionIQ environment makes it a seamless expansion of our capabilities to better serve our claimants." said Sarah Oliver, COO, VP Head of Claims & Operations, Prudential.Frontline teams will find MedHub indispensableClaims Professionals often have to spend a substantial portion of their time meticulously reviewing complex medical documentation to gain important contextual understanding of the claim
Prudential partners with EvolutionIQ to help disability insurance claimants recover and return to work.
DeepFraud Technologies dba EvolutionIQ has filed a notice of an exempt offering of securities to raise $10,310,949.00 in New Equity Investment. DeepFraud Technologies dba EvolutionIQ has filed a notice of an exempt offering of securities to raise $10,310,949.00 in New Equity Investment.According to filings with the U.S. Securities and Exchange Commission, DeepFraud Technologies dba EvolutionIQ is raising $10,310,949.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Jonathan Lewin played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.About DeepFraud Technologies dba EvolutionIQEvolutionIQ is powering the next wave of the insurance industry. We use data to create better outcomes for clients, carriers and employees. Our Vision is to power the data-driven insurance revolution, enabling carriers to use all available data to deploy the lessons of the past directly to the front lines, making claims handling better, fairer and faster