InforMedic

Medical record summarization and automated underwriting decisions for life insurance carriers.

Underwriting & Risk Startup Seed

Overview

InforMedic is an underwriting automation platform for life insurance carriers, applying machine learning, natural language processing, and optical character recognition to medical record review and application processing. The company addresses the time-consuming manual work of reviewing lengthy medical files -- often hundreds of pages -- and distills them into concise summaries with actionable underwriting insights.

The platform is delivered as a SaaS product with an API for integration into existing carrier workflows. Core capabilities include medical record summarization, automated rate classification, claims processing assistance, annuity suitability analysis, and application data extraction. Custom machine learning algorithms are developed to match each carrier's specific underwriting criteria, and the system is designed to process unstructured data through NLP and OCR. The company holds SOC 2 Type II certification and ISO 27001 compliance.

Founded in 2022 by Tan Phan (CEO) and Pranav Rajan (COO), both from the University of Nebraska-Lincoln, InforMedic completed the Global Insurance Accelerator program and raised an initial convertible note. The company participated in the InsureTech Connect (ITC) Vegas conference and was recognized as a top insurtech startup in 2024, including a first-place award in the BlueKC Healthcare Innovation Awards.

Products & Services

Medical Record Summarization

Automatically extracts and summarizes relevant clinical information from medical records, condensing hundreds of pages into concise summaries that highlight key factors for underwriting decisions.

Key Features

NLP and OCR processing of unstructured medical documents
Highlights medically relevant data points for underwriters
Custom algorithm tuning per carrier underwriting guidelines

Target Users: Life insurance underwriters and underwriting operations teams

Automated Underwriting Decisions

Automates rate classification and underwriting decision-making using machine learning models calibrated to carrier-specific rules and scenarios.

Key Features

Custom ML models aligned to carrier underwriting criteria
Automated rate classification output
Demonstrated greater than 95% processing accuracy in proof-of-concept deployments

Target Users: Life insurance carriers seeking to reduce manual underwriting workload

Claims Processing Automation

Applies the same document analysis capabilities to claims documentation, assisting with claims triage and assessment.

Key Features

Claims document ingestion and analysis
Claims triage support
Reduces manual review time for claims teams

Target Users: Claims operations at life insurance carriers

Annuity Suitability Analysis

Automates review of applicant information and customer correspondence for annuity products, supporting regulatory suitability compliance.

Key Features

Automated review of annuity application documentation
Customer correspondence analysis
Regulatory suitability compliance support

Target Users: Life and annuity carriers

Application Data Review

Extracts and analyzes data from insurance applications and supporting documentation, reducing manual data entry and improving accuracy in intake processes.

Key Features

Automated data extraction from application documents
Reduced manual data entry
Improved data accuracy in underwriting workflows

Target Users: Carrier underwriting and operations teams

At a Glance

Founded: 2022
Headquarters: Lincoln, Nebraska, United States
Employees: 1-10
Funding: Seed

Category & Focus

Category: Underwriting & Risk
Subcategories: Medical record summarization automated underwriting decisions claims processing automation
Insurance Verticals: Life & Annuity
Target Customers: Carriers