Artificial intelligence is a powerful tool, but it's not a magic wand. Applying the technology requires thought and dedication, especially with legacy industries like law and insurance, which are being taken on in this way by Luminance and Omnius respectively. The companies' founders, Emily Foges and Sofie Quidenus-Wahlforss, spoke with great insight on this on stage at Disrupt Berlin. Luminance uses AI and natural language processing to help law firms process documents more quickly, not replacing the lawyer but providing additional intelligence and analysis of what may be hundreds or thousands of pages and saving time and money. Omnius applies AI not just to the text of insurance claims, but to the process of handling them, ensuring rapidity not only in documentation but in results like payouts.

When you think about artificial intelligence, chances are you think about anthropomorphic robots that can make decisions on their own. But artificial intelligence already has huge impacts in the insurance space. That's why I'm excited to announce that omni:us founder and CEO Sofie Quidenus-Wahlforss is joining us at TechCrunch Disrupt Berlin. This way, omni:us customers can use the platform for automated claims handling. The startup doesn't want to disrupt existing insurance companies.

BERLIN--(BUSINESS WIRE)--Oct 30, 2018--omni:us, the only AI company of its kind fully focused on insurance, has today announced the closure of a Series A round, bringing its total funding to date to USD 22,5 million. The investment has been led by Berlin-headquartered VC firm Target Global, followed by MMC Ventures and Talis Capital. Existing investors, Unbound and Anthemis, also participated in the round, demonstrating their continued commitment to the company's ambitions. This funding reinforces omni:us' position as a market leader in enabling insurers to become more data-driven and adapt to today's customer expectations. As a key player in the major digital revolution currently taking place in the insurance industry, omni:us has developed cutting-edge AI technology that empowers all kinds of organisations within the sector: many of the top global insurance companies - such as Allianz, Baloise and AmTrust – count on its deep digital transformation expertise in order to innovate and meet growing customer needs.