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Raindrop

AI-powered policy document analysis for insurance professionals

Document Management Startup Seed
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Overview

Raindrop is a document intelligence platform for insurance brokers, underwriters, and claims managers that converts Product Disclosure Statements and policy wording into structured, searchable data. Built by RETJA Pty Ltd and headquartered in Darwin, Australia, the platform targets the time-intensive task of reading and interpreting dense insurance documents -- a process that reportedly consumes up to three hours per day for the majority of insurance professionals.

The platform processes uploaded PDSs through a proprietary Insurance Ontology, a knowledge graph built by insurance experts, which categorizes policy content into structured units called Droplets covering coverage, exclusions, conditions, extensions, definitions, and claims. An AI assistant called Neptune operates within the uploaded document set to answer policy-specific questions with exact clause references, without drawing on external internet data. The platform also enables side-by-side visual comparison of multiple policies in a standardized format.

Raindrop launched its full-feature platform nationally in Australia in June 2025, following an early access phase during which it processed over 600 documents and performed more than 112 million semantic comparisons. The company closed an oversubscribed seed round in November 2024, with the majority of funding from Darwin-based investors. It holds Early Stage Innovation Company (ESIC) status from the Australian Taxation Office for two consecutive years and has received Northern Territory Government innovation grant support.

Products & Services

Standardise

Converts uploaded policy documents into a consistent, structured format regardless of the original document layout. Policy content is organized into Droplets -- proprietary units covering coverage, exclusions, conditions, extensions, definitions, and claims -- enabling side-by-side visual comparison across multiple policies.

Key Features

  • Uniform reformatting of PDSs from any insurer
  • Droplet-based content segmentation by clause type
  • Visual multi-policy comparison view

Target Users: Insurance brokers, underwriters, claims managers

Neptune AI

An AI-powered assistant that answers questions about policy content using only the documents uploaded to the user account. Responses include exact clause references and are delivered in plain English. The system is constrained to uploaded PDSs and does not access external data or the internet.

Key Features

  • Question answering grounded in uploaded PDS documents only
  • Exact clause citations in all responses
  • No hallucination risk from external data sources

Target Users: Brokers, underwriters, operational staff

Upload PDS

Document ingestion and processing engine that converts uploaded Product Disclosure Statements into structured, searchable data using the Insurance Ontology mapping system.

Key Features

  • Automated categorization of policy content
  • Insurance Ontology-driven semantic mapping
  • Supports multiple document formats

Target Users: All platform users

At a Glance

Founded
2021
Headquarters
Darwin, Northern Territory, Australia
Employees
1-10
Funding
Seed

Category & Focus

Category
Document Management
Subcategories
Policy document analysis AI document intelligence policy comparison
Insurance Verticals
P&C Commercial Specialty/E&S P&C Personal
Target Customers
Brokers, Carriers, MGAs/MGUs

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Last updated: 2026-06-21