Leveraging AI to deliver

LEVERAGING AI TO DELIVER ENHANCED SOLUTIONS TO AFRICAN INSURANCE

COMPANIES / By Curacel /

Nigeria-based earlystage insurtech startup Curacel in May announced a $450,000 seed round raised to power Insurance intelligence in Africa.

The new wave of deep learning techniques, such as artificial intelligence (AI) has the potential to live up to its promise to imitate the perception, reasoning, learning, and problem-solving of the human mind.

And it is happening fast in insurance.

Every year, African insurers lose more than $12 billion to fraudulent, wasteful, and abusive claims. Curacel’s flagship CLAIMS platform acts as a bridge between primary care hospitals and Africa’s insurance companies, using advanced artificial intelligence to ensure that insurance companies only pay claims for the correct treatment, appropriate medications and recommended patient therapies.

AI and its related technologies will profoundly impact all aspects of the insurance industry, from distribution to underwriting and pricing to claims.

Major insurers on the continent currently use our products for claims automation and fraud detection, like AXA Mansard, Liberty Health and Old Mutual, as well as more than 800 hospitals in Nigeria, Ghana, and Uganda. It plans to expand into 10 new African countries by the end of 2021.

Curacel, an insurtech infrastructure company helping insurers & partners in Africa and other emerging markets, increase insurance’s reach and functionality through cloud-based tools and APIs.

Curacel is accelerating its expansion across Africa and facilitate the goal of becoming Africa’s premier provider of embedded finance technology for insurance.

We are launching new products

Curacel Capital, a cash advance product that makes it easier for healthcare providers to access working capital to mitigate financial challenges.

Delayed payments and other inefficiencies in the payment process means many African healthcare providers often have to make the difficult choice between keeping the books balanced or providing healthcare at a loss.

With Curacel Capital, healthcare providers can access lump sums of up to three times their average monthly billings, based on claims processed on the Curacel portal, ensuring that they can continue to deliver essential services without undue disruption.

Curacel Auto is an easy-to-use solution that allows insurance policyholders to submit their auto claims at the point of incidence.

Our solution leverages AI to accelerate the claims process while increasing accuracy.

It reviews all estimates quickly and efficiently, accurately identifying necessary repairs or total losses thereby reducing the claim cycle by over 70%.

Our numbers and still growing

Curacel has helped their clients reduce fraud, waste and abuse claims payouts by up to 25%, saved them a total of $320,000 and have processed more than 700,000 claims and can process an infinite number.

Curacel, an AI-powered platform for claims processing and fraud management in Africa.

Learn more about Curacel as an AI intelligent platform. www.curacel.ai | sales@curacel.ai