Verikai

AI-powered risk scoring and alternative data analytics for group health underwriters

Underwriting & Risk Established Acquired (USD 120M by American Financial Group, December 2021)

Overview

Verikai is an underwriting risk assessment platform for insurance carriers, managing general underwriters (MGUs), and stop-loss carriers. The company applies machine learning and alternative data to generate risk scores for group health and medical stop-loss underwriting, enabling carriers to price small and mid-sized employer groups without requiring health questionnaires or prior claims history.

The platform draws on a proprietary data asset covering more than 250 million US individuals, with over 5,000 behavioral attributes per person and more than 1.3 trillion total data points. Products span group-level risk scoring, medical claims analytics, and prescription data, delivered through a digital underwriting portal and API integrations that connect into carrier workflows.

Verikai raised USD 6M in a Series A round led by ManchesterStory in 2020 and was acquired by American Financial Group (NYSE: AFG) for approximately USD 120M in December 2021. Post-acquisition, Verikai operated as a standalone market-facing business; AFG subsequently absorbed the technology and capabilities internally into its Great American Insurance Group subsidiary.

Products & Services

Capture360

Combines medical, pharmaceutical, lifestyle, and social determinants of health (SDoH) data to produce group and individual risk scores. Layers behavioral factors onto a medical data foundation to deliver holistic risk stratification for stop-loss and accident and health underwriters.

Key Features

Census-only input -- no health questionnaires required
SDoH and lifestyle data integration
Individual and group-level risk scores

Target Users: Stop-loss carriers, MGUs, group health underwriters

CaptureHealth

Provides access to medical claims and pharmaceutical histories for health insurance underwriting decisions. Launched in 2024 as part of expanded product offerings.

Key Features

Medical claims history access
Pharmaceutical data integration
Machine learning-powered risk modeling

Target Users: Health insurance underwriters, carriers

Med/Rx

Launched in September 2022, Med/Rx provides on-demand access to historical medical claims and prescription data for group submissions. Carriers can identify high-cost conditions and prescriptions across more than 10,000 medical diagnoses and pharmaceutical pricing categories within minutes.

Key Features

On-demand medical claims data access
Prescription data covering pharmaceutical pricing categories
Coverage across 10,000+ medical diagnoses

Target Users: Stop-loss carriers, group health carriers

Predictive AI Platform

Released in 2023, this platform combines data-driven risk assessment with a digital underwriting portal. Provides machine learning-powered Capture scores alongside an interface for underwriting workflow management.

Key Features

Integrated digital underwriting portal
Machine learning risk scoring (Capture scores)
Workflow management for submission processing

Target Users: Insurance carriers, stop-loss underwriters

Marketplace

A broker-facing platform launched in 2020 enabling insurance brokers to access Verikai risk intelligence tools and connect with carriers, streamlining submission and quoting workflows.

Key Features

Broker access to risk scoring tools
Carrier connectivity for submissions
Streamlined quoting workflow

Target Users: Insurance brokers, agents

At a Glance

Founded: 2018
Headquarters: San Francisco, California, USA
Employees: 11-50
Funding: Acquired (USD 120M by American Financial Group, December 2021)

Category & Focus

Category: Underwriting & Risk
Subcategories: Risk Scoring Alternative Data Predictive Analytics Group Health Underwriting
Insurance Verticals: Health Group Benefits Specialty/E&S
Target Customers: Carriers, MGAs/MGUs