Founded three years ago, EvolutionIQ is helping to transform the insurance claims management sector with technology that leverages client data, complex medical codes, relevant external data, and a claim’s historical context to find and predict patterns. The system then delivers actionable, expert guidance that help frontline examiners drive to rapid, measurable outcomes on tens of thousands of insurance claims daily. This approach is fundamentally changing the traditional methodology for how claims are reviewed and acted upon – moving from a predominantly calendar-based approach to one that is now dynamic, predictive, and data driven.
In addition to core teams with engineering and insurance backgrounds, EvolutionIQ also deploys technology change management teams that form an ongoing partnership with clients. Leveraging a rapid and continuous client feedback loop, these experts continually apply new insights and patterns generated as the machine learns. They then help client frontline teams understand how to best use the information to take action on cases and to correspondingly modify workflows and team structures to make maximum use of the data and recommendations.
“With our distinct fusion of in-house insurance experts and technical engineers, we have created a workplace that combines the best aspects of start-up culture speed, creativity and problem-solving with the insurance industry’s best traits of deliberation, customer-focus, and exacting attention to detail,” said EvolutionIQ’s Head of People & Recruiting Anna Howell. “EvolutionIQ is designing and developing AI from the ground-up specifically for claims management, and we do it with a mix of curiosity and openness to constructive feedback. You can see it in our work and you can see it in the enthusiasm and desire to win in our people. We are currently in the process of doubling the size of our team and we can’t wait to see the X-factor that the next group of thinkers, creators, and doers bring to what is already an exciting, friendly and hyper-motivated mix.”
EvolutionIQ is now an established industry partner with seven of the top 15 disability carriers and third-party administrators as clients, strong annual recurring revenue, substantial Series A funding from experienced insurance investors announced on April 12, 2022, and global expansion underway.
