Roots Automation merges advanced AI with human expertise to tackle the challenges of unstructured data in the insurance industry. Co-founded by Chaz Perera, who has extensive experience in operations and strategy, the company aims to automate tedious data processing tasks. Their flagship product, the Digital Coworker, utilizes proprietary generative AI, InsurGPT, to efficiently process and categorize insurance documents, significantly improving speed and accuracy. Since its founding in 2018, Roots Automation has achieved key milestones, including securing major clients and raising substantial funding. With a focus on innovation and customer satisfaction, the company plans to expand its offerings and continue enhancing its technology to support the evolving needs of the insurance sector.
Roots Automation is paving the way for innovation in the insurance industry by integrating advanced artificial intelligence with human expertise. During a recent interview with Chaz Perera, the co-founder and CEO of Roots Automation, we explored how the company is tackling the challenge of unstructured data, which is a major problem in the insurance sector.
Chaz Perera has an extensive background in the insurance industry, having spent 14 years at AIG in various executive roles. His experience in claims, operations, and strategy has influenced the unique approach of Roots Automation. The company was formed six years ago to address the difficulties insurance companies face in managing unstructured data—information that is often messy and hard to categorize, much of which is found in emails, paper, and outdated systems.
Roots Automation is revolutionizing this area with AI-powered Digital Coworkers. These intelligent systems utilize a proprietary generative AI called InsurGPT to process insurance documents quickly and accurately, dramatically enhancing operational efficiency. By turning unstructured data into organized information, Roots Automation allows insurance companies to make quicker, more confident decisions.
Perera highlighted that the challenges faced by insurance companies in dealing with unstructured data can consume about 40% of an employee’s workday. The goal of Roots Automation is to free up valuable resources and reduce manual processing. For example, the Digital Coworker can improve the processing of high-volume documents, reducing the time required from five days to just one hour, ultimately enhancing the customer experience.
Customer success stories, such as the partnership with Eastern Alliance, demonstrate the significant impact of Roots Automation’s technology. By implementing a Digital Coworker, Eastern Alliance has saved thousands of hours while increasing accuracy and efficiency in document handling.
Looking forward, Roots Automation has ambitious goals, including expanding their technology capabilities and entering new markets. With a recent $22.2 million in Series B funding, the company is well-positioned to continue growing and delivering value in the insurance sector, which according to Perera, sees around $100 billion in lost revenue due to unstructured data.
In summary, Roots Automation is not just an AI company; it’s a transformative force within the insurance industry. With its dedicated focus on unstructured data and customer satisfaction, Roots Automation is setting a standard for innovation and efficiency.
Tags: Roots Automation, Chaz Perera, InsurGPT, Artificial Intelligence, Insurance Industry, Unstructured Data, Digital Coworker, Insurance Technology, Customer Success.
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