– NLP/AI platform for automated document analysis, purpose built for commercial insurance carriers and brokers – reads unstructured insurance data around 400x faster than a human
– Can automatically recognise over 500 insurance-specific data points including limits, premiums, deductibles, coverages, exclusions, and more
– Solutions include data extraction, and policy check/quote comparison for brokers and
– Also developed Submission Triage, an AI-powered intelligent workflow solution that enables commercial insurance carriers to auto-route and auto-decline submissions, and submission prioritisation
Novee AI Raises £1.6M to Build Intelligence Layer for Commercial and Specialty Underwriting
Novee AI, a London-based insurtech startup, has secured £1.6 million in pre-seed funding to develop its AI-powered risk assessment platform for commercial and specialty insurance. The round was led by early-stage B2B SaaS investor 42Cap, with additional backing from Insurtech Gateway, a prominent investor in insurance technology.
