DigitalOwl raises $12 million

DigitalOwl, a startup offering a solution for analyzing and summarizing medical records, announced a $12 million investment from RGA, bringing its total funding to date to ~$38 million.

Last year, the Israeli startup partnered with RGA “to strengthen and streamline the underwriting process.”

“For more than 50 years, RGA has been deeply committed to underwriting excellence as a cornerstone of our client value proposition. Through our strategic partnership with DigitalOwl, this pursuit of excellence continues. Enabled by DigitalOwl technology, we are developing a digital solution for carriers that will automate the processing of numerous sources of structured and unstructured data and synthesize them into a comprehensive underwriting decision in an all-digital format. Furthermore, we will integrate DigitalOwl as a core component of our internal underwriting operations.” – Dave Rengachary, SVP, head of Underwriting, US Individual Life, RGA.

“The strategic investment and global partnership stems from a 500% growth we experienced in the life insurance field last year. Our technology already addresses the inefficiencies that have plagued life insurance underwriting for decades. Now, closely collaborating with RGA, we aim to drive the necessary digital transformation in the industry. We strongly believe in collaborations with leading organizations in our target market.” – Yuval Man, CEO of DigitalOwl.