Start Up Tautona Believes Automation Is The Future Of The Workplace. Tautona AI is a cloud company that leverages artificial intelligence and machine learning to automate the insurance claims process. It develops models that are able to perform tasks that normally require human intelligence. The models consist of propriety algorithms that learn from and make predictions on data and the relationships between data.
It was co-founded in 2017 by John Holdsworth and Philip Cooper after completing an engagement to automate the claims process at one of South Africa’s foremost insurers. “Over the next five years, we are about to witness the world we live in totally transformed by robotics and artificial intelligence, our vision is to redesign the traditional workplace and empower people by using robotics and artificial intelligence. We believe that automation is best achieved when powered by both. Tautona offers software as a service model rather than the traditional software licensing model.” said Holdsworth in an interview with Venture Burn.
The company believes that when a policy holder submits an insurance claim, that action should trigger an instant decision, with the outcome immediately communicated back to the policy holder. This will enable policy holders to benefit from swift claims handling, communication and compensation, leading to total transparency and instant gratification. The Tautona platform uniquely integrates automated decisions with A.I, machine learning, data mining, business rules and analytics to help insurance companies identify which claims can be automatically processed and which should be handled manually.
The company also identifies fraudulent claims and point to specific facets of the claim that require further investigation. The algorithms the company uses are designed to reproduce a claim handler’s deductive reasoning, making investigations quicker and easier.
By automating decision making, communication and compensation, Tautona enables insurance companies to take a major step towards becoming true digital insurers. The company specialises in Artificial Intelligence, Insurance claims and Robotics. Tautona cut the cost of claims processing by 75% and reduced the time to finalise claims from days to less than 5 minutes.