Sprout.ai

Based in the UK, Sprout.ai offers an AI-powered platform for insurers to process claims. The platform uses natural language processing and character recognition to understand insurance claim data, such as handwritten reports, combining it with external datasets such as location, weather, medical information, etc., to automate claims processing. The platform also offers features to detect fraud across claim applications. Sprout.ai operates on a transactional basis, where it charges the insurer a fee for every claim processed using Sprout’s platform. The company offers a lower price per claim as the volume of claims increases. Sprout.ai counts global insurers such as Zurich among its clients, along with several others in Europe, South America, and Asia-Pacific regions.

In April 2020, Sprout.ai raised GBP 8 million (USD 11 million) in a Series A funding round led by Octopus Ventures. The company expects to use the funding to grow its technical, product, delivery, and operations teams, while also funding R&D and expanding its sales and partner networks.

In February 2022, the company announced the appointment of Roi Amir (former vice president of Tractable) as its CEO. Amir will be responsible for leading Sprout’s global team and is expected to serve its existing enterprise customers and contribute toward expanding its operations.