Sprout.ai

A London company whose AI platform reads and automates insurance claims, helping insurers settle claims faster and with fewer manual steps.

About Sprout.ai

Sprout.ai builds software that helps insurers handle claims. Its platform uses artificial intelligence, including language processing and document reading, to understand claim documents, even handwritten doctors' notes, and recommend the next best step. It says it can help settle claims within 24 hours and that its Explainable AI gives reasons for each recommendation, so a human can check them.

The company was founded in London in 2018 by Raphael Guth. Chief executive Niels Thoné has said that Sprout.ai's mission is "to revolutionise customer service within global claims automation". The firm focuses on making claims faster, clearer and fairer for customers. Octopus Ventures, Amadeus Capital, Techstars and Playfair are named as backers in press reports, which places it within the UK start-up community. A customer quoted from Zurich said customers expect fast, clear and transparent handling of their claims, which is exactly the problem Sprout.ai aims to solve.

Sprout.ai is based in London. Press reports describe it as a London insurtech and a UK start-up, and a 2023 article names customers including AdvanceCare, MetLife and Generali, as well as Zurich. In 2023 it announced a patent for technology that uses generative AI and large language models to assess claims. The company says the platform can cut claim handling costs and improve efficiency by up to 50 per cent. It also has a claim extraction module and self-service tools for training AI models, and has been planning to move into new insurance lines and international markets, including the US.

We did not find published detail about the company's culture, values or office address, so we do not describe them here. What is known is that when it announced its Series A in 2021 it planned to hire across product, operations, delivery and technical teams, and to grow its enterprise sales and partner networks.

That list is a useful map of the careers in a claims technology company: engineers and data scientists who build and train the models, product managers, delivery and customer teams who set the software up with insurers, and sales and partnership staff. Its claims software is already used with health and life insurers as well as general insurers, which shows the range of roles involved. People who understand how claims work in health, travel and other lines are also valuable, because the software has to fit how insurers actually settle claims.

What they do

• {'desc': 'Reads claim documents and recommends next steps.', 'title': 'Claims automation'}
• {'desc': 'Gives reasons for each recommendation so people can check them.', 'title': 'Explainable AI'}
• {'desc': 'Self-service tools for insurers to train AI models.', 'title': 'Model training tools'}

Key facts

• Founded in London in 2018 by Raphael Guth (UKTN)
• Chief executive Niels Thoné (UKTN, 2021)
• Named customers include Zurich, AdvanceCare, MetLife and Generali (UKTN; tech.eu)
• Holds a patent for generative-AI claims assessment technology (tech.eu, October 2023)

Website: sprout.ai