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Founded Year

2019

Stage

Series A | Alive

Total Raised

$22.89M

Valuation

$0000 

Last Raised

$21M | 6 mos ago

Mosaic Score

+30 points in the past 30 days

What is a Mosaic Score?
The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.

About EvolutionIQ

EvolutionIQ enables the future of claim handling for complex lines of coverage: deep partnership between skilled professional adjusters and a highly specialized predictive guidance system. Equipped with clear prioritization, pro-active claim alerts, and rich context, empowered adjusters reduce losses and expenses, while delivering enhanced claimant experience. EvolutionIQ was founded in 2019 and is based in New York, New York.

EvolutionIQ Headquarters Location

19 West 24th St. Floor 6

New York, New York, 10011,

United States

ESPs containing EvolutionIQ

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTHMARKET STRENGTHLEADERHIGHFLIEROUTPERFORMERCHALLENGER
Insurance / P&C Insurance Tech

Claims data platforms bring together third-party alternative datasets, such as social media activity logs, public records, and demographic information. Insurers can tap into these new data sources to augment their own internal claims datasets and collected incident data in order to enhance the speed and accuracy of the claims process.

EvolutionIQ named as Leader among 6 other companies, including Precisely, Explorium, and Social Intelligence.

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EvolutionIQ's Products & Differentiation

See EvolutionIQ's products and how their products differentiate from alternatives and competitors

  • IQInvestigate

    Focused on monitoring Disability Claims in real time to identify which claims no longer meet the definition of disabled so examiners can focus on claims that can be resolved and reduce investment on low priority claims

    Differentiation

    Time to Value of Productized Tool, Investment in Product and change management, single data/AI platform required to address the whole claims lifecycle, mission/industry specific AI trained to solve … 

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    Differentiation

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Expert Collections containing EvolutionIQ

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

EvolutionIQ is included in 6 Expert Collections, including Digital Health.

D

Digital Health

8,838 items

Startups recreating how healthcare is delivered

I

Insurtech

3,615 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

A

Artificial Intelligence

9,391 items

This collection includes startups selling AI SaaS, using AI algorithms to develop their core products, and those developing hardware to support AI workloads.

F

Fintech

7,550 items

US-based companies

I

Insurtech 50

50 items

A

AI 100

100 items

Latest EvolutionIQ News

09:30 EDT Palantir Veteran Joins EvolutionIQ's Client Strategy Team

Aug 11, 2022

News provided by Share this article The leader in Insurance Claims Guidance appoints Kipp Teamey as Head of Client Strategy NEW YORK, Aug. 11, 2022 /PRNewswire/ -- EvolutionIQ, the most rapidly adopted Claims Guidance platform for insurance carriers, today announced a new appointment to its leadership team, naming Kipp Teamey as Head of Client Strategy. The primary focus of Kipp's team is to forge a partnership with each client to ensure the platform's insights and action recommendations deliver maximum impact immediately at launch and ongoing as a client's claims blocks evolve. Meet EvolutionIQ's new Head of Client Strategy Kipp joined EvolutionIQ after nine years as a deployment strategist at software standout Palantir Technologies, a platform for integrating, managing, and securing data as part of complex data analytics. Prior to that he was active duty in the U.S. Navy and is currently serving as a Captain in the Navy Reserve. "Our job is to continually 'future-proof' clients with evolving insights about their data," says Kipp. "Whether it's a pilot launch, a fully-deployed production platform, or scaling our software modules to their other insurance lines, our team ensures that clients derive a massive multiple of impact from their EvolutionIQ investment. The ROI is immediate and measurable and can be seen every day via reduced cycle times, reduced reserve allocations, reduced adverse events, more efficient clinical and vocational referrals, and reduced examiner and adjuster attrition." Typical client interactions include: A rapid feedback loop with a client's senior leadership team, managers and claim examiners and adjusters to ensure in-depth data analysis translates into action Advanced examiner and adjuster onboarding and regular follow-on training as a client's utilization of EIQ software grows Strategic guidance to enable positive transformations across the claim organization Product upgrades and enhancements Development of customized dashboard options for distinct client workflows and metrics Extensive 2-way communication with claims team leadership to document the software's ROI and to continually calibrate the claims recommendations generated so that they align with a carrier's evolving claims resolution goals. "The key is partnering human beings with AI, so claims teams spend less time with documents and more time helping people," adds Kipp. "To accomplish all of this, we have to maintain full situational awareness of each client's unique business characteristics – and intimately understand how to achieve claim organization objectives through a critical synthesis of client data, our claims guidance platform, and claim expertise." The appointment comes as EvolutionIQ celebrates record growth in its third year in business with 7 of the top 15 leading Disability Carriers and Third Party Administrators as clients. Typical deployments deliver a 7x to 10x return on investment in as little as one year. As Head of Customer Strategy, Kipp will be instrumental in the continued expansion of EvolutionIQ's SaaS (Software as a Service) platform across Disability, Property & Casualty, and Workers Compensation lines of business. "We have the insurance industry's leading claims AI technical team as well as in-house insurance experts with more than 100 years of combined industry experience," said Tomas Vykruta, Co-Founder and Chief Executive Officer, EvolutionIQ. "It's in our Client Strategy team where those two sides of the coin – advanced tech and insurance acumen – merge so that the team becomes equally expert at both. The Client Strategy team understands a client's claims as well as the carrier does – and it understands the technology as well as our machine learning experts do. The result is a snowball effect of better claims outcomes." About EvolutionIQ EvolutionIQ is the leading provider of claims guidance software. Using advanced, proprietary machine learning and natural language processing, the claims guidance platform actively monitors extremely complex bodily injury claims. The system combines real-time predictive accuracy, clear guidance and explainable AI, and EvolutionIQ's strategic deployment services to ensure adoption and business impact. As a result, EvolutionIQ claims organizations spend their efforts on claims they can impact – and their claimants get better, more tailored service. Insurers choose EvolutionIQ to increase their profitability and control over complex lines of business by integrating decision intelligence into every step of the claims handling process. For more information, visit www.evolutioniq.com and follow the company on LinkedIn. Press Contact

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  • When was EvolutionIQ founded?

    EvolutionIQ was founded in 2019.

  • Where is EvolutionIQ's headquarters?

    EvolutionIQ's headquarters is located at 19 West 24th St., New York.

  • What is EvolutionIQ's latest funding round?

    EvolutionIQ's latest funding round is Series A.

  • How much did EvolutionIQ raise?

    EvolutionIQ raised a total of $22.89M.

  • Who are the investors of EvolutionIQ?

    Investors of EvolutionIQ include First Round Capital, Guardian Life Insurance Company of America, New York Life Ventures, Asymmetric Capital Partners, Altai Ventures and 8 more.

  • Who are EvolutionIQ's competitors?

    Competitors of EvolutionIQ include Precisely, Carpe Data, CCC Intelligent Solutions, Friss, Explorium and 14 more.

  • What products does EvolutionIQ offer?

    EvolutionIQ's products include IQInvestigate and 1 more.

  • Who are EvolutionIQ's customers?

    Customers of EvolutionIQ include Reliance Standard and Argo Group.

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