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Legacy acquirer DARAG implements DGTAL’s DRILLER AI tool

By Gloria Methri

May 08, 2023

  • Claims Management

DGTAL, Insurance, Claims Management, AI, DRILLER, Europe, SaaS, Insurance Data, Portfolio Management, SwitzerlandDGTAL, the Software-as-a-Service that decodes and processes unstructured insurance data with AI, has signed a three-year partnership with European legacy acquirer DARAG. The agreement entails legacy portfolios with open claims as well as future acquisitions.

DGTAL’s AI tool, DRILLER will enable DARAG to assess insurance portfolios faster and more accurately, delivering a competitive edge in the pricing of portfolios and in the settlement of claims. Focusing solely on insurance, DGTAL is advanced in providing AI that uses Long Language Models (LLMs) such as GPT at scale for the industry.

AI-powered audits and analytics unlock unparalleled portfolio visibility. DRILLER converts all claims-related documents into a machine-readable format, understands document types, identifies counterparties, as well as detects, extracts, and analyses key topics.

DRILLER can also run quality checks, and clean, and filter the right type of data to be integrated post-transaction. Furthermore, it provides on-time and easy regulatory reporting, a deeper understanding of the book, and a “fitter for purpose” portfolio management plan, properly pinpointing the potentially severe cases.

Alexander Roth, Global Head of M&A and CEO of Europe, DARAG Group said, “We have been the first mover as a legacy provider in Continental Europe; we now aim to become the first to move to an AI-based business model. The core of what we do is to assume legacy portfolios at competitive prices and to settle efficiently. Since the first pilot with DGTAL, we have been deeply impressed by what AI can achieve – it is likely to profoundly change the way claims are managed.”

Arndt Gossmann, CEO of DGTAL said, “Signing the first long-term agreement straight with a leader is a great validation of what we do. It is fascinating to understand the opportunities that AI creates for insurance, as it helps assess and understand the huge amounts of available information much better than ever before, leading to informed decisions. Early AI adopters are bound to capitalize the most.”

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