Seattle startup n2uitive, which manages millions of hours of insurance claim interviews and statements, raised $1.3 million to bring more technology to what it calls an antiquated process with a “next-generation platform.”
The company offers a platform for secure digital insurance interview statement recording, storage, indexing and reporting. The funding round will allow n2uitive to build “comprehensive workflow automation and interview intelligence capabilities” into its next-generation platform.
“The recorded statement claims interview process is disjointed and time-consuming for claims adjusters and often interferes with the insurers providing the most accurate and timely claim outcomes for their customers,” n2uitive CEO Joel Gendelman said in a statement.
Insurance interviews remain a very low-tech process, the company says, relying heavily on handheld recordings, manual file uploads and other time-consuming tasks. It takes a long time to review calls, making it challenging for companies to judge whether or not their interview process is working.
Bend, Ore.-based Cascade Seed Fund led the round, which also included participation from angel investors.
Gendelman founded the company in 2006. He was previously co-founder of two claim-related startups, Claimsdesk and ClaimHub, and was an entrepreneur-in-residence at Ignition Partners.
The 10-person company manages more than 70,000 new recorded interviews per month and stores more than 2.3 million hours of conversations. N2uitive’s customer base includes more than 35 enterprise insurance customers and more than 15,000 claims adjusters.