Omniscience (company)

Omniscience (company)

Omniscience is an artificial intelligence company providing automated underwriting and risk intelligence services for the insurance industry.

Omniscience is a provider of commercialized distributed data-mining systems designed to provide data research services. The company's system uses open and internal data sources to generate clusters and apply proprietary algorithms to prove accuracy and scalability.

Platform

Omniscience's platform includes an approach to data distribution that allows vast amounts of data to stay intact and a platform that allows the platform to handle large volumes of data. Each piece of data is given its own coordinates in the platform. These data points are tracked for regulatory adherence and to improve the decisions. The platform includes organization-specific data ingestion paired with public cloud data.

To try and keep the platform accurate, the artificial intelligence and deep learning of the platform removes edge effect distortions. And the platform offers hypothesis testing through a data feedback loop.

Underwriting Automation

The Omniscience underwriting suite is a system designed for underwriting decisions using domain-specific paradigms, such as a life insurance framework. The platform uses machine learning models with specific guidance from users to create an automatic underwriting decision system.

Customer Intelligence

Through their customer intelligence, Omniscience offers users access to relevant customer data and the possibility for extraction for straight-through processing or triage underwriting.

Customer Intelligence and Underwriting Automation data visualization.
Computational Insurance

Omniscience has developed their computational insurance platform, which offers automated services, which the company suggests is intended to be humanized. The platform automates data to offer cross-organization mutual-optimization. This includes the data from the customer intelligence and underwriting automation systems, incorporated with an organization's capital risk and optimization, actuarial guidance, and claims optimization profiles. This platform is intended to help automate business decision making while ensuring compliance with business policy and regulatory compliance.

Timeline

July 31, 2020
Omniscience receives key patent for first use of augmented reality (AR) for the computational enterprise
April 20, 2020
RGAX and Guardian Life join financial investors including Translink Capital and others in a $12 million A round funding.
March 9, 2020
Omniscience announced both RGAX, LLC and Guardian Life Insurance Company of America have made equity investments in the company.
March 9, 2020
Omniscience raises a $12,000,000 series A round from RGAx and Guardian Life.
December 10, 2019
Omniscience adds two new executives for the Asian markets. Sakuya Morimoto is VP for Japan and Akihiko Katayama has been named VP for Hong Kong.
May 20, 2019
Omniscience raises a $11,000,000 series A round from Asahi Medialab Ventures, Toshi Otani and Oriza Ventures.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Omniscience (company) Series A round, March 2020
12,000,000
March 9, 2020
4 Results
Results per page:
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People

Name
Role
LinkedIn

Alex Contryman

Employee

Aman Adhanom

Employee

Beau Mahadev

Employee

Cristin Wolkenstein

Employee

Dan Douglass

Advisor

Dr Jianping Zhang

Advisor

Frank Minjarez

Employee

Hubert H. Byron III (Coy)

Employee

Jason Murphy

Employee

Manu Shukla

Founder

Mariam Rajabi

Employee

Mark Baudler

Attorney

Pallavi Ramnarain

Employee

Safraz Rampersaud

Employee

Sunil Rawat

Founder

YADIDYAH DORDEK

Employee

Further reading

Title
Author
Link
Type
Date

Insurance Industry Leaders Make Strategic Investments in Omniscience

Web

March 9, 2020

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

References

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