The word from Dylogy, who have completed on a pre-seed funding round;
Dylogy unveils its new identity and announces its first €1.2M pre-seed funding round, with participation from Convex Group, Hub612, Mindstone, Lya Protect, and Uchal. This funding will enable the young startup to accelerate the deployment of its generative AI services and scale up its platform dedicated to insurers, reinsurers, and brokers.
In 2023, drawing on their expertise in AI and actuarial science, Aurélien Couloumy, Julien Crespy, and Loris Chiapparo founded Dylogy and joined the HUB612 accelerator to support its growth. Year of experience in the insurance sector led them to a clear realisation: the continuous increase in the volume of insurance documents, combined with limited expert resources, insufficient budgets, tighter regulations, and the emergence of new risks, poses a major challenge for industry players. Operators no longer have the time to read all the information they receive or produce. This imbalance can have significant financial consequences and create a notable competitive disadvantage.
Dylogy helps insurance players streamline document governance, meaning they can process all types of documents, capture and aggregate essential data, and standardize and monitor it to ensure informed decision-making and proactive information tracking.
Bridging the gap between words and numbers for enhanced risk management
Insurance players primarily rely on statistical methods and structured numerical data to analyze risks or define an offering. However, this overlooks the fact that text and semantics play a fundamental role in the industry. Throughout the value chain, from underwriting to claims settlement, everything is received or transcribed exhaustively in natural language***. Even in the rare cases where this information is considered, many issues remain: ambiguities, inconsistencies, lack of standardization, failure to cross-reference, comprehension gaps, and more.
It is therefore essential for insurers to interpret and control language to ensure their efficiency and insight.
Dylogy tackles this exact challenge by providing its clients with tools for effective and sustainable management of their documents and activities. For instance, through its generative AI services, the platform can assign an overall risk score to each document.
Combining generative AI and insurance expertise: a proven model
By collaborating with various insurance organizations, Dylogy now brings together multiple high-value use cases on its platform. Its technological solution is radically transforming the operations of insurance players.
Dylogy’s clients highlight the value of the platform, which enables them to:
• Save time by significantly reducing resources dedicated to tedious and laborious processes,
• Ensure good governance by greatly improving data quality and the allocation of budgets associated with compliance and structuring,
• Expand operations by facilitating peak activity periods and guiding actions that are most beneficial for the business or the client,
• Mitigate losses by managing risk exposure to enhance technical results and the bottom line.
Dylogy: balancing technological optimization, innovation, and strategic expansion
The funding secured in July 2024 will primarily support the enhancement of the platform’s infrastructure and R&D related to AI services, with a particular focus on knowledge base generation, training, and streamlining large language models (LLMs).
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