Insurtech firm ClaimSorted is pleased to announce their recent $13.3 million seed funding round, fueling their mission to scale their digital claims TPA platform and help Carriers and MGAs turn claims from a point of “frustration” into a “competitive advantage.” Insurtech ClaimSorter founders, Pavel G. and German Mikulski, had started the venture after claiming to have experienced firsthand how “broken” and inefficient the claims process could be while running their own MGA.
According to the announcement from ClaimSorted’s management, they had faced the same “pain points” insurers see across the industry: claims that should “take a week dragged on for months, inconsistent service damaged customer retention, and poor claims management eroded profitability.”
So their team built something the say is “different.”
They also shared:
“By combining a … team of experienced handlers from companies like Hiscox, Lemonade, AXA, Hartford, and Liberty Mutual with their tech-enabled internal claims platform, we’re proving that claims can be handled 3x faster, with lower indemnity costs and an exceptional customer experience policyholders actually love.”
They also acknowledged the efforts of partners Atomico, Eurazeo, Y Combinator, and firstminute capital for believing in their initiative and overall vision.
As explained by its developers, ClaimSorted is a digital claims TPA that aims to offer a better experience to policyholders while “helping insurance companies cut operational and indemnity costs.”
Their proprietary claims platform enables their claims adjusters to focus on what matters, “your policyholders and claims indemnity accuracy.”
By streamlining and automating routine tasks, they claim to free up their team to spend more time “assisting your customers and handling complex cases.”
They also noted that they create a white-label eNOL that “can be fully customized to users’ brand and program.”
Policyholders also get access to a white-label Claims Portal “to track claim statuses, ask questions, and upload additional documents.”
Their algorithms flag unusual patterns, “document tampering and excessive costs.”
The system can also flag opportunities for “recoveries and subrogation.”
