Northwestern Mutual to Invest in Pythonic AI
Northwestern Mutual has announced that Phythonic AI , an AI startup in the medical records space, is the winner of its second Reverse Pitch MKE event. On March 18, seven teams of entrepreneurs pitched their creative business solutions to company executives with the winning team earning a seed investment up to $85,000.
In addition to funding, Pythonic AI will receive access to corporate mentors and networks, as well as working space in Cream City Labs, which opened in Northwestern Mutual’s downtown Milwaukee headquarters in October 2018.
Last fall, Northwestern Mutual executives pitched three business challenges the company is looking to solve to more than 100 entrepreneurs from across the country focused on:
- Securing Payments – seeking an automated and secure way to conduct high volume, high dollar, business to business financial transactions (i.e. wire transfers).
- Streamlining Medical Record Review – seeking to reduce the amount of human review required to analyze PDF medical records in underwriting an insurance policy or evaluating a claim.
- Evaluating Inclusion – seeking to determine the impact of efforts to create and maintain a diverse and inclusive work environment.
Sixteen teams submitted ideas with seven teams invited back to the company’s downtown headquarters to present their creative business solutions at the March 18 event. Pythonic AI addressed the Streamlining Medical Record Review business challenge with a creative solution that uses machine learning and natural language processing to automate aspects of medical records review.
In 2017, Socialeads , a platform that analyzes social networks to keep financial advisors up-to-date on client milestones, was selected as Reverse Pitch MKE’s first investment recipient. The company is now based out of Cream City Labs and is working with Northwestern Mutual on an initial deployment.