London-based claims insurtech raises £2m

London-based insurtech, BlockClaim has raised a further £2m and rebranded as Sprout.ai. The start-up, which originated from Imperial College London, plans to use the funds to take its plug-in claims automation platform into the US market.

Sprout.ai uses artificial intelligence techniques, such as natural language processing and optical character recognition, to enrich data from individual claims by up to 300%, with real-time information sourced from web-based and public data sources. The technology enables insurers to settle claims in as little as 24 hours through its data driven insights.

Founded in 2018, Sprout.ai’s platform is designed to integrate with existing claims software, to enhance claims and fraud processing in line with current systems.

The new seed round was led by Amadeus Capital Partners, along with Playfair Capital and Techstars.

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