Digicall is pleased to announce its investment in Tautona, an artificial intelligence and machine learning firm specialising in claims automation solutions. The investment cements an already close relationship between the two companies and reinforces their shared mission to advance AI-powered business process automation in the financial services industry.
Digicall, one of South Africa’s leading insurance claims incident managers and provider of business process outsourcing services, and Tautona, developer of the world’s first AI-powered Claims Adjuster Bot™, have announced a long-term strategic partnership. The partnership is an important component in Digicall’s strategy to deliver complete, 360-degree BPO services to their clients.
This collaboration between these industry specialists brings together the depth of Digicall’s extensive offering and the power of Tautona’s machine learning technology to deliver enhanced claims management solutions that address the need for straight through processing of insurance claims.
“Digicall and Tautona share a vision for driving innovation in the insurance industry. We believe that partnerships with companies seeking to re-invent how claims are processed is critical to achieving that vision,” says Stefan Naudé, CEO Digicall South Africa. “This was the basis for our decision to invest in Tautona along with our drive to enhance our comprehensive, technology-driven offering.”
“We are excited about this significant strategic investment by the Digicall Group. Tautona has been seeking the right strategic investor for the past 12 months and I believe we have found this in Digicall,” says John Holdsworth, CEO at Tautona. “The investment will enable Tautona to pursue our vision to become the preeminent insurance focussed intelligent automation company globally and enhance our award-winning culture that is already attracting some of the biggest carriers in the market and the best talent in the industry,” John notes.
“By implementing Tautona’s claims automation solutions, our clients in the insurance and financial services industry will benefit by being able to substantially reduce operational costs and claims handling times,” Stefan explains. “For existing Digicall clients who are already making use of our services, this would be a valuable add-on that would further optimise their operations.”
Tautona, recently recognized as one of 2021’s #AIFinTech100 companies, has developed the world’s first AI-powered Claims Adjuster Bot™ that thinks and acts like an experienced insurance professional. The Bot is able to analyze complex insurance policy forms and establish if there is coverage for the cause of loss and if there are any applicable exclusions or conditions. Using Tautona’s Claims Adjuster Bot™, insurers can now automate policy coverage analysis enabling straight through processing of property claims with little or no human intervention.
According to Philip Cooper, Business Development Director at Tautona, their Claims Adjuster Bot™ has distilled hundreds of claims adjusters’ work experience and adjusted tens of thousands of claims, and consistently adjusts to standard each time. He goes on to say that the bot is trained on tens of thousands of historical claims as well as human adjuster decisions and that the algorithms learn from experience by analysing a large variety of different examples – adding that it has surpassed human accuracy and is trained to perform many complex claims adjusting tasks faster, cheaper, more accurately and more consistently than humans.
“We are excited to roll this solution out to our clients.” Stefan enthuses. “Digicall is a technology-focused company and innovation tailored to each client’s industry is a constant focus for us. Our investment in Tautona is more than just capital. We are positioned to provide Tautona with operational excellence and sustainable growth by opening up our stable of clients to them. The combination of Tautona’s state of the art AI technology and our existing portfolio of digital solutions will enable our clients to increase volumes, reduce costs, and slash claims processing timelines.”
“Our businesses are highly complementary and we look forward to the launch of new growth engines that will deliver value to our current and future clients. Additionally, we believe that by leveraging our state-of-the-art cloud based intelligent automation platform, Digicall will solidify its leading position in the business process outsourcing industry,” says Philip.
About Tautona:
Tautona is a leading intelligent or hyper-automation company. Tautona uses AI and machine learning to automate tasks that have traditionally required human cognitive abilities. Tautona focuses exclusively on the insurance sector, specifically claims processing. Their library of reusable claims automation solutions can be rapidly deployed for immediate business benefit.
Their intelligent hyper-automation solutions are powered by:
- Neural networks that identify, extract and interpret structured and unstructured data from documents and images including emails, text, scans and PDF’s.
- Deep learning algorithms that identify fraudulent claims, segment and classify risks, predict loss reserve amounts and adjust loss reserving through reinforcement learning, and;
- Natural Language Understanding (NLU) engine that can predict proximate cause and analyse complex insurance policies without human intervention
By implementing Tautona’s solutions insurers can bring down operational costs, reduce claims handling times and ensure customer-first experiences. Tautona is headquartered in Johannesburg South Africa and Delaware United States. Tautona is currently deploying intelligent automation solutions in South Africa, United Kingdom, United States and Canada.
Find out more about Tautona: https://tautona.ai/
