Published By : 09 May 2018 | Published By : QYRESEARCH
United Ventures invested US$1 mn in i3systems, a healthcare and life insurance-focused artificial intelligence (AI) startup, the company announced on May 9, 2018. The initial-stage investment also witnessed participation from two of the existing investors of i3systems, Behram Vakil, the founding member of AZB Partners, and Jerxis Vandrevala, the founder of Sanchez Computers. The company is anticipated to utilize the returns from the financing round to collaborate with India’s best 20 life and medical coverage firms, and process almost 1 million policies using its digital platform, it said in an official articulation.
"The funding of Unitus will empower the company to develop their medical data science team in order to increase the length of their secondary care and diagnostic-risk evaluation technology. The company is also setting up a devoted client success group to execute ten insurance partnerships in India and abroad," stated Mallesh Bommanahal, the CEO of i3 Systems. The Mumbai-based startup has two leader items - DataMD, which robotizes six stages in the therapeutic guaranteeing process, including, restorative reports check, information digitization, medicinal institutionalization, restorative standards execution, counterfeit information recognizable proof, and straight-through-handling for ordinary cases, and claims to decrease the whole procedure from five days to 60 minutes.
The organization's second item - i3Claim changes over all hospitalization archives into computerized information and presents it on an exceptional interface to the claim mediation specialist. It has various in-fabricated computerizations, for example, recognizable proof of missing archives; approval of claim date; seclusion of non-payable things and so forth i3claim, is as of now experiencing approval of its execution on Mediclaim from more than 35, 000 doctor's facilities in India.