i3Systems

i3Systems is an AI-powered insurance technology that provides cloud and mobile solutions, focus on the development and provision of the enterprise mobile management service.

i3systems has built Artificial Intelligence products for automation of Underwriting and Claims using any documents or mobile images.

i3Systems was founded in 2016 by Varzavand Batliwala and Mallesh Bommanahal. The company is headquartered in Mumbai, Maharashtra, India.

i3Systems' Enterprise AI platform works on variety of documents and unstructured data-sets to empower predictive modeling, process automation and decision making.

I3 Systems’ first product DataMD automates six steps in the medical underwriting process (medical reports check, data-digitization, medical standardization, medical rules execution, fake-data identification, and straight-through-processing for normal cases) reducing the entire process from five days to one hour.

 

i3Systems' second product, i3Claim converts all hospitalization documents into digital data and presents it on a special interface to the claim adjudication doctor. It has multiple in-built automations such as identification of missing documents, validation of claim date, isolation of non-payable items etc.

 

i3Systems has parsed more than 2 million diagnostic reports and has predicted health risk for over 100,000 policies already. In the next 12 months, i3 Systems is working to partner with India's top 20 life and health insurance companies and increase the reach of its products to 1 million policies and 1 million mediclaims.

 

i3Systems is backed by Unitus Ventures, Reliance Industries CFO Alok Agarwal and Zhooben Bhiwandiwala, President, Mahindra Partners and others. The company raised $1.5M in pre-Series A round on Sep 10, 2020. This brings i3Systems' total funding to $2.5M to date.

 

 

  • Year founded: 2016
  • Funding Info: $2.5M over 2 Rounds (Latest Funding Type: Pre-Series A)
  • Yearly Revenue: NA
  • Employee Size: 11-50
  • Business Valuation: NA
  • City/Town: Mumbai
  • State: Maharashtra
  • Country: India
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