DGTAL unveils EU rollout after successful proof-of-concept
DGTAL, the Swiss-based Software-as-a-Service company launched a year ago, has unveiled its rollout into Europe and a new corporate structure.
It has set up its headquarters in Zurich, a development hub in Copenhagen and an operating platform in Athens.
Over the last two years, the company’s founders pre-invested around €10 million for the development of the company’s landmark products DRILLER and HUSTON, while DGTAL is in advanced discussions with institutional investors for an additional €6 million Series A equity injection.
The expansion is based on the proof-of-concept of DRILLER, an analytics and audit tool which allows insights into claims portfolios and enables insurers to tap into both their structured and unstructured data, to gain clarity on their claims portfolio, forecast adverse developments, and flag critical claims thus materializing cost, capital and productivity gains.
The company signed up a revenue potential of close to €2 million for 2023, mostly in health and motor insurance in Germany, the UK and Greece. Beyond the economic traction, the company has reached a critical mass of insurance data, having processed more than five million documents and 500.000 claims files using DRILLER, with expected savings of 5-10% on claims cost by using it frequently.
Within 2022, DGTAL has scaled to become a cross-European InsurTech pioneer, leading the development of the world’s first artificial intelligence claims agent that will be capable of handling more than 80% of claims, fully automated.
DGTAL has also finalized the synthesis of its management team, led by former insurance CEO and insurance expert Arndt Gossmann (Pictured) as CEO, complimented by deep-technology expert Dr. Florian Herzog as chief technology officer and technology entrepreneur Dirk Sebald, as chief group officer.
The management team includes Joanna Aquilina as chief finance officer, Christian Altmann as chief operating officer and Vanda Giannara as chief client officer.
Gossmann said: “I am impressed with our progress the past few months. Our team has sharpened our technology with a product like DRILLER, that allows the analysis of thousands of claims files within days thus providing great clarity on risks and faster and more accurate decision making. A game changer, as to the audit and analytics capabilities it offers. AI will profoundly change the insurance industry because for the first time, it allows insurers to take advantage of the data treasure they have.”
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