LISA Insurtech, an artificial intelligence (AI) and automation-focused startup providing solutions for auto, home, life and health insurers and third-party administrators (TPAs), is pleased to announce the successful close of an early stage, $2.5 million funding round led by U.S.-based venture capital (VC) firm HCS Capital.
Born out of the need to speed claims settlements, reduce claim costs, and improve cycle times. The company was founded in 2018 and is now headquartered in insurance talent-rich Columbus, Ohio. The company’s automation-first platform, including the flagship LISA Claims solution, helps insurance companies and TPAs streamline operations.
“This new funding has already facilitated enhancements in company leadership and the move of our headquarters to the U.S.”, said Gino Bustamante, founder and CEO of this company. “Going forward, it will enable the launch of the complete LISA platform in the U.S and will allow us to continue our mission of building the insurance operations platform of the future”.
The solutions currently available on LISA’s platform, including LISA Claims, LISA Gateway, and LISA TMT, are driven by AI and adept at automating critical insurance processes.
LISA Claims, for example, enables claimants to file claims, upload supporting first notice of loss (FNOL) documentation and photos, and is currently in use by large global insurance companies modernizing claims intake and settlement processes across multiple lines of business.
LISA’s new insurance sales solution, which is already in its early deployment in several existing LISA insurers clients, is designed to allow client evaluation in real time for a more accurate policy pricing determination. The solution is expected to be widely-available in the second half of 2022.
LISA’s current clients already include some of the largest carriers in LatAm and Europe.