EvolutionIQ

AI software for insurance claims handling

New York City, New York, United States

About EvolutionIQ

EvolutionIQ creates software for the insurance industry that enhances the claims handling process using artificial intelligence. The software helps insurance examiners and adjusters identify the right claims to focus on, improving efficiency and accuracy. By understanding bodily injuries like a medical expert, it quickly assigns complex claims to specialized teams, leading to faster processing and better outcomes for claimants. The goal of EvolutionIQ is to streamline claims handling, ultimately increasing the number of successful returns to work for claimants.

New York City, New YorkHeadquarters

2019Year Founded

$58.7MTotal Funding

LATE_VCCompany Stage

Enterprise Software, AI & Machine Learning, Financial ServicesIndustries

201-500Employees

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Disability Insurance

401(k) Company Match

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Hybrid Work Options

Stock Options

Company Equity

Professional Development Budget

Home Office Stipend

Risks

Integration with CCC's systems may face challenges, delaying acquisition benefits.

Acquisition could shift company culture, causing internal disruptions or turnover.

AI reliance may expose EvolutionIQ to biases, leading to unfair claim outcomes.

Differentiation

EvolutionIQ uses AI to guide claims examiners, improving efficiency and accuracy.

The platform predicts claim trajectories earlier, enhancing Return to Work outcomes.

MedHub integrates medical data synthesis, streamlining claims decision-making.

Upsides

Acquisition by CCC Intelligent Solutions validates EvolutionIQ's AI capabilities in claims management.

Partnership with Lincoln Financial enhances disability claims processes and customer satisfaction.

Recent $10 million equity investment supports expansion and product development.

Funding

Total raised$58.69 M

Latest valuation$100.75 M

StageLATE_VC

LATE VC

7/31/2024

$20

$100.75 M

SERIES B

1/31/2023

$200.00 M

SERIES A

3/31/2022

$21

$150.00 M

SEED

4/30/2020

$9.45 M