Claimbot Raises $615k in Seed Funding Round

The funding will primarily be used to accelerate the development of Claimbot’s AI-enabled virtual chat engine, as well as expand the company’s sales and product development teams.

(Image source: Claimbot homepage.)

Claimbot, an Austin, Texas-based creator of an enterprise-class virtual chat engine specifically built for the insurance and automotive industries, announced that it has raised $615,000 in seed funding. With participation from the Google Assistant Investments (San Francisco) program, Notley Ventures (Austin, Texas), Social Starts (San Francisco) and several individual angel investors, the funding will primarily be used to accelerate the development of its AI-enabled virtual chat engine, as well as expand the company’s sales and product development teams, a Claimbot statement says.

Miguel Fernandez, Co-Founder and CEO of Claimbot.

“Insurance and automotive companies waste billions handling customer service requests through archaic call centers that drive little satisfaction in return,”  comments Miguel Fernandez, co-founder and CEO of Claimbot. “We are leveraging emerging technology like artificial intelligence to automate and enhance the customer journey, delivering knowledge to end-users in a format they crave. This infusion of capital will drive our product innovation to further empower insurance and auto companies to deliver a more streamlined experience to their customers.”

Deflecting up to 44 Percent of Inbound Call Center Requests

Claimbot offers insurers an AI-enabled virtual chat engine that the vendor says provides more efficient interactions when filing claims, requesting roadside assistance, purchasing coverage or paying a bill. The company’s platform integrates with Zendesk, Braintree Payments, Stripe and other APIs so that it’s as effective as a company’s customer service agent, capable of delivering the accurate and actionable knowledge users need to solve problems on their own. Enterprises such as Silvercar by Audi, Brightside Cover and Omadi Roadside are using the company’s smart chat engine to help deflect up to 44 percent of their inbound call center requests.

Josh Rickel, Partner, Notley Ventures.

“In today’s on-demand, time constrained, digital world, consumers no longer want to wait on hold to speak with a human customer service representative or get stuck in an automated menu selection flow that might not address their needs,” comments Josh Rickel, partner at Notley Ventures. “They want to start solving their problems immediately. Built specifically for the insurance and automotive industries, Claimbot’s smart chat engine can uniquely understand the complex customer requests inherent to this space and deliver an unprecedented level of actionable information and interactivity enabling users to solve their problems quickly.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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