Artivatic.ai

Artivatic helps businesses integrate next-level intelligent systems based on genomics and neuroscience capabilities to scale efficiency. Its proprietary, patent-pending algorithms and technologies streamline and automate business-critical insurance claim processes. The platform collects data about consumers from various sources using AI, IoT, genomics science, neuroscience, natural language processing, psychology and more to create an in-depth customer profile and improve operational efficiency.

During the pilot run for its product, Artivatic claimed that this 360-degree approach helped it reduce customer on-boarding time and costs by up to 50%, while enabling up to 25% better risk delinquencies, with a scope for further improvement. It also claims to have improved efficiencies in insurance business processes by up to 50%, while also drastically enhancing the end-customer experience and product personalisation.

In October 2017, it was selected to be part of the summer 2017 batch of US-based technology firm Pitney Bowes’ six-month accelerator programme. It was also earlier selected for Europe-based ‘Spark10 Accelerator’ from where it raised its initial angel capital.

In 2019 the company raised an undisclosed amount of funding from the Indian Angel Network. Artivatic stated it would use the new capital for business development, infrastructure enhancement and R&D.

In May 2021 registrar service KFIN Technologies acquired a 17% stake in Artivatic.ai and stated it was looking into investing even further. Artivatic revealed it would use the funding to scale its product portfolio and its geographic footprint.

In November 2021 Artivatic launched AUSIS, an AI-powered underwriting platform. The platform will help to process and digitise medical records, KYC, and application forms to verify, and build personalised profiles - offering health risk analysis and underwriting decision insights in under a minute. 

In February 2022 insurtech RenewBuy announced it intended to acquire Artivatic AI. The purchase will enable RenewBuy to expand its operations and solutions across the value chain including sales, underwriting and claims. Furthermore, the acquisition will solve one of industry's long-standing challenges, claims settlement.