Risk management for insurance Daisy Intelligence collects $10m Series A

Daisy Intelligence, an AI-powered platform for retail and insurance, has collected $10m in its Series A financing list.

Framework Venture Partners led the round, with participation also coming from Sonae IM.

Capital from the round will be used to expand globally, invest in sales and marketing, provide further support for its customer success teams, and expand its operational infrastructure.

Daisy’s platform helps retailers and insurance companies generate improved financial results by delivering business recommendations and automating complex processes beyond human capability.

Insurers can use the AI platform to generate business recommendations based on claims and underwriting data to combat fraud and false-positives. The company’s technology can also be used for risk management to detect and avoid millions of dollars in fraud and automatically adjudicate claims.

It works by collating two years of claims data and related dimensions, and then uses various detection methods to identify and prioritize risk. It then analyses the relationships between claims, people and networks, and then identifies the risks associated with transactions and alerting the team.

Sonae IM CEO Eduardo Piedade said, “Daisy Intelligence attracted our attention with its distinctive AI capabilities applied to merchandising, which is definitely a crucial activity within grocery retail. As a strategic investor with a strong European foothold, we have the ambition to support the company, with every means possible, in its growth and global expansion.”

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