EvolutionIQ

EvolutionIQ provides AI-powered claims guidance software for insurance carriers, focusing on disability, workers' compensation, and property & casualty claims. The company's platform uses deep learning and natural language processing to actively monitor and analyze complex bodily injury claims, helping claims adjusters identify high-priority cases that require immediate attention. Its technology can process claims involving multiple medical diagnoses, comorbidities, and extensive documentation to provide actionable insights and guidance to claims professionals. The platform's MedHub solution, expanded in 2024, offers medical summarization capabilities across life, health, accident, and casualty insurance lines. Insurance carriers using EvolutionIQ's software for over a year reported loss ratio reductions of up to 3.3% and claim flow-through reductions of up to 45% as of April 2022. The company has demonstrated that its solutions can help injured workers return to work up to 3.5 months sooner compared to traditional claims handling methods, with carriers reporting up to a 35% increase in successful return-to-work cases as of February 2023.

Key customers and partnerships

EvolutionIQ's software has been adopted by 70% of the top 15 US disability carriers. The company serves major insurance providers including Reliance Standard, Principal, Sun Life, Argo Group, Matrix Absence Management, FullscopeRMS, and Prudential. In April 2024, the company expanded its partnership with Prudential to implement its MedHub solution across their claims operations.