Owl.co: An Exceptional Tool To Elevate Net Profits And Promoter Scores

Owl.co emerges as both a favored tool among insurance executives and a driving force behind increased net profits and net promoter scores. Spearheading this technologically innovative venture in insurance technology and claims management is Sam Merat, serving as the CTO, and technical spokesperson, whose visionary leadership has positioned Owl.co as a true leader in the insurtech realm.

Owl.co’s exceptional success in a traditionally slow-to-adopt industry is rooted in its steadfast focus on customers and their claims. The company has engineered a compliant solution that not only saves insurers tens of millions annually but also significantly enhances the overall experience for claimants. This is achieved by expediting claim handling times and review cycles, showcasing Owl.co’s commitment to improving the insurance claims processes.

Setting itself apart as one of the fastest-growing claims intelligence platforms for insurers, Owl.co leverages advanced proprietary machine learning and artificial intelligence models to meticulously analyze both internal claims documents and proprietary external data. Employing this strategic approach ensures that the claims teams prioritize claims with maximum impact, ultimately reducing claim costs and durations. The result is a streamlined claims process that allows insurers to allocate more time to serve their customers during critical moments.

One of Owl.co's noteworthy offerings is the Owl.co partner network, a vast network of carriers in North America. The network empowers carriers to leverage AI guidance on claims, access industry best practices, and benchmark key metrics in real-time. The constant improvement of AI, driven by decisions made across the entire network, provides valuable insights to carriers, reinforcing Owl.co’s commitment to collaborative industry advancement.

Owl.co’s prominence in the industry is reflected in several notable achievements. According to Sean Merat, CEO, the company boasts most of the twenty largest insurers in the US and Canada as clients. Additionally, Owl.co has garnered support from leading venture capitalists and formed a strategic partnership with Munich Re, the largest re-insurer globally, to enhance claims management through a revolutionary approach to missing context.

While the insurance industry grapples with challenges like high churn, lengthy onboarding of claims talent, lengthy learning curves, and recruitment issues, Owl.co rises to the occasion. The platform addresses these challenges by automating the review of internal claimant information, carrier policies, and proprietary external data. The triage system optimizes efficient claims processing, overcoming hurdles such as ineffective document collection, difficulty scaling coverage, and inconsistent claims decisions.

Owl.co’s wisdom lies in its commitment to solving complex insurance challenges while actively working to reduce and eliminate inherent biases within the industry. With a vision of a more equitable insurance value chain, Owl.co’s models and workflows consciously exclude data points related to age, gender, race, and other potential sources of bias. The company strives to make claims decisions more confident, efficient, and free from discriminatory impact.

Heading into the future, Owl.co continues to expand its services into workers comp, life, casualty, staff legal, and bodily injuries. Owl.co’s strategic expansion positions the company as a comprehensive solution provider in the insurance technology sphere, poised for continued success and industry leadership. Embodying innovation, efficiency, and a customer-centric approach, Owl.co is seamlessly reshaping the insurance industry’s digital capabilities.

This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.