German insurtech startup omni:us has raised a $22.5 million funding round from Target Global, MMC Ventures, and Talis Capital, with participation from existing investors Unbound and Anthemis. The company plans to use the money to further develop its AI-powered platform and expand into the US later this year.
omni:us has developed a platform for automatic claim processing and quotation process optimisation that's already used by several large insurance companies, including Allianz, Baloise, and AmTrust. The system automatically categorises incoming documents and extracts structured data, optimising the insurers' internal processes.
“We know the insurance industry will move from process to data-driven over the coming years,” said Sofie Quidenus-Wahlforss, CEO and founder of omni:us. “To meet this need, omni:us is the trusted partner, supporting insurance companies along this transformational path. With this round of funding, we will bring our cognitive systems to the next level and expand into the US market later this year.”