Roots Automation combines advanced AI technology with human skill to solve the challenges of unstructured data in the insurance industry. Founded by Chaz Perera and John Cottongim, the company focuses on enhancing efficiency by transforming messy data into clear insights. With their innovative Digital Coworkers powered by the proprietary InsurGPT, Roots Automation helps insurance companies process documents faster and more accurately. This not only reduces human error but also saves valuable time. As the company grows, it aims to expand its technology and services further, continually innovating to meet the needs of the insurance sector and improve client satisfaction.
Roots Automation Revolutionizes Insurance Data Management with AI
In the fast-evolving world of insurance, leveraging technology is no longer optional. Roots Automation specializes in combining machine intelligence with human insight through advanced AI agents that can read, reason, and infer just like humans. Founded by industry veterans Chaz Perera and John Cottongim, the company aims to tackle one of the significant challenges in insurance—managing unstructured data effectively.
Chaz Perera, co-founder and CEO, brings 14 years of experience from AIG, where he honed his skills in claims, operations, and strategy. His insights are now driving Roots Automation’s innovative approach, focusing on unlocking value from unstructured data that comprises a majority of the industry’s information.
Understanding the Unstructured Data Problem
Over 80% of the data in the insurance industry is unstructured, often buried in paperwork, emails, and faxes. This poses a challenge for insurers, brokers, and administrators, as processing this data consumes a significant portion of their time. Roots Automation was founded to solve this problem, allowing companies to make quicker, more informed decisions.
Offering Cutting-Edge Solutions
At the core of Roots Automation’s offerings is their AI-powered Digital Coworker, which utilizes InsurGPT, a proprietary generative AI designed for the insurance sector. These Digital Coworkers streamline various processes by:
– Receiving and classifying insurance documents
– Making reasoned decisions based on the context
– Interacting naturally with users and other systems
For instance, Eastern Alliance, a commercial carrier focused on workers’ compensation, deployed Roots Automation’s solutions to drastically improve document processing speeds. The Digital Coworker reduced their document intake time from five days to just one hour—an impressive 100-fold improvement.
Achieving Major Milestones
Since its inception in 2018, Roots Automation has reached significant milestones, including securing its first U.S. client, receiving its first patent, and expanding into international markets. They recently closed a $22.2 million Series B funding round, positioning them for further growth.
Looking Ahead
With an estimated $100 billion potential Market related to unstructured data in insurance, Roots Automation is poised to lead the charge in transforming the industry. The company plans to expand its product offerings and enhance its technology to continue delivering exceptional value to its clients.
Roots Automation stands out in the competitive landscape thanks to its vertical expertise in insurance and commitment to ensuring client success. As they continue to innovate, the future looks bright for both the company and the insurance sector as a whole.
What is the Insurance Agentic AI Platform?
The Insurance Agentic AI Platform is a technology that helps insurance agents work better and faster. It uses artificial intelligence to make tasks easier, such as finding leads and answering questions.
How does the AI in the platform benefit insurance agents?
The AI helps agents save time by automating routine tasks. This means agents can focus on building relationships with clients instead of getting stuck in paperwork or research.
What inspired Chaz Perera to start this company?
Chaz Perera wanted to improve how insurance agents operate. He noticed many agents struggled with managing their workloads, so he created a solution that combines technology and human skills to make their jobs easier.
Who can use the Insurance Agentic AI Platform?
The platform is for all insurance agents, whether they are just starting out or have years of experience. It’s designed to help everyone improve their productivity and client service.
What does the future hold for the Insurance Agentic AI Platform?
The future looks bright! Chaz Perera and his team plan to keep improving the platform with new features and updates, making sure it stays useful and effective for agents in an ever-changing industry.
