Automation outfit Hyperscience has scored a deal with digital insurance provider One Insurance.
One has selected the Hyperscience Platform for its advanced Intelligent Document Processing capabilities to reduce manual keying and validation, improve data quality, and streamline application processing across their motor, home (personal contents) and personal liability lines of insurance.
Philip Klossner, Chief Operating Officer, ONE Insurance said Hyperscience will be instrumental in helping us achieve fast and efficient applications processing and underwriting, automating critical tasks with high levels of accuracy.
Hyperscience Chief Operating Officer Charlie Newark-French said: “Using the Hyperscience Platform, ONE Insurance can more efficiently – and accurately – process new applications and scale to accommodate business growth. We’re seeing increased momentum for our technology in the UK and EMEA, as well as across the U.S., as companies recognize the critical competitive advantage that our automation brings.”
The win reflects increased demand for the Hyperscience offering across the EMEA region. In 2019, the company opened a London office, joining its New York City and Sofia, Bulgaria locations, to meet growing demand for enterprise automation. The company also added German, French and Spanish language processing capabilities to its platform. In June 2020, Hyperscience announced a $60 million Series C financing round led by Bessemer Venture Partners, on the heels of accelerated business momentum, including over 300 percent revenue growth year-over-year and a 3x increase in platform usage month-over-month.
