Baloise Invests in omni:us
The Baloise Group is investing in another startup through Anthemis Baloise Strategic Ventures. The Berlin-based company omni: us specializes in services that use artificial intelligence to extract relevant data points from heterogeneous document streams. The products developed by omni: us specifically for the insurance industry classify and extract from various documents those contents that are necessary for the automated processing of the respective business processes and today often still have to be processed manually. The special feature: the programs recognize even handwritten texts and put current as well as historical writing products in the right context. Thanks to artificial intelligence, human errors can be circumvented and monotonous administrative work can be done.
As part of its “Simply Safe” strategy, Baloise has announced plans to invest up to CHF 50 million in startups in cooperation with the British investment and advisory firm Anthemis. Baloise is benefiting twice from its investment in omni: us: “On the one hand, it is a promising financial investment, because this new technology is attracting a great deal of interest from many insurers, but we are already benefiting from Baloise products internally Baloise in Luxembourg, further projects in all national companies are being intensively examined,” says Adrian Honegger, Head of Group Strategy and Digital Transformation at the Baloise Group. “The so-called document mapping, in which documents of the type recognized and the data is then extracted automatically, is a crucial skill when it comes to optimizing processes. Thanks to omni: us technology, we will be able to further improve our core business in all national companies, “adds Honegger.
After Insurdata and Trov, this is already the third investment within a year that has been made thanks to the partnership with Anthemis.