RiskGenius builds a platform that leverages AI and proprietary machine learning to interpret, organize and standardize insurance policy language, enabling clause libraries and automated policy workflows. Its product is designed to help underwriters, brokers and regulators understand complex coverages, create underwriting workflows, and streamline policy review with customized business rules. Following a proof-of-concept earlier in the year that produced strong results comparing policies, RiskGenius signed a multi-year commercial use agreement with QBE North America. Under that agreement QBE North America plans to implement the platform across its business units in North America in the first half of 2018 and upload 125,000 policy documents in 2018. The platform is expected to improve QBE’s speed-to-market for new products, provide new insights into coverages, and introduce intuitive automation to the policy review process. The company is led by CEO Chris Cheatham and is based in Overland Park, Kansas. The business recently received a significant strategic investment that supports its commercial deployment. ClaimKit is an Overland Park, Kan.-based company that develops technology solutions for the insurance industry. Led by CEO Chris Cheatham, the company’s original product, Privity, is a claim document management tool used by insurance carriers, attorneys, consultants and accountants. ClaimKit’s second product, RiskGenius, provides nearly instant policy analysis through machine learning by identifying and categorizing insurance clauses in commercial policies. RiskGenius is designed to let insurance professionals collaborate with prospects and customers to identify coverage gaps in existing and proposed policies. The company raised funds to support the launch of RiskGenius. No operating metrics were disclosed in the article.

Total raised

$52M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2017