Snapsheet and Foundation AI Partner to Launch Digital Mailroom Revolutionizing Claims Document Management

CHICAGO, IL October 25th, 2023 – In an era where digital transformation is reshaping the insurance landscape, Snapsheet, a frontrunner in claims management technology, and Foundation AI, a transformative document processing solution, are proud to announce their strategic alliance. This collaboration underlines a significant synergy of AI-powered document processing with cutting-edge claims management.

Foundation AI's mission to "eliminate mundane, tedious work so that people can spend more time doing what they love" perfectly complements Snapsheet's innovative approach to claims. Together, they're set to overhaul the way carriers handle claims-related physical mail by launching a revolutionary 'Digital Mailroom' to the forefront of the industry.

Dan Colomb, COO at Snapsheet states, “Our focus is to streamline the claims process. Pairing up with Foundation AI not only amplifies our AI capabilities but instantly transforms traditional email and mail management into a streamlined, automated experience. The speed at which this solution removes legacy processes is a testament to our commitment to bringing immediate value to our customers.”

Through their integrated solution, carriers benefit from an AI-driven approach that analyzes incoming emails and physical mail, automatically categorizing each by type and matching it to the correct claim. This advanced system can even identify time-sensitive documents, such as demand letters, and seamlessly index them within Snapsheet's claims infrastructure. As a result, carriers not only bypass the traditionally labor-intensive and costly manual mail categorization but also enhance their organization and responsiveness.

Vivek Rao, CEO at Foundation AI, shared “Through the seamless integration of Foundation AI with Snapsheet’s claims management technology, claims organizations of all sizes can harness our purpose-built AI models to eradicate costly, time-consuming administrative duties, allowing claims professionals and staff to dedicate their energies to more substantial and high-value endeavors.”

Key benefits of the Snapsheet and Foundation AI partnership include:

• Streamlined Operations - a technology-first approach ensures consistent, automated document handling, significantly minimizing manual interventions.
• Cost Efficiency - carriers can now sidestep the traditionally expensive manual mail handling process, leading to substantial operational savings.
• Rapid Implementation - the integrated solution can be quickly deployed, ensuring carriers see benefits in record time.
• Enhanced Responsiveness - with automated mail categorization and entry, carriers can respond to policyholders and claimants more promptly.
• Modernized Process - with the power of AI, carriers can move away from dated, time-consuming mail handling systems to a future-ready approach.

About Foundation AI:

Foundation AI stands at the cusp of transforming business processes for the legal and insurance sectors. With a steadfast focus on leveraging artificial intelligence to drive efficiency, the company aims to eradicate repetitive tasks, ushering in an era of automated, intelligent workflows. Learn more at www.foundationai.com.

About Snapsheet:

Snapsheet ignited the virtual appraisals revolution and is a leader in claims management technology. Built on a foundation of claims innovation, Snapsheet boasts a swift digital insurance claims process primarily for auto, property, and commercial lines in the United States. Collaborating with over 140 partners, including many of the largest insurance carriers, TPAs, MGAs, and insurtechs, Snapsheet streamlines claims, appraisals, and payment processes through advanced technology. Learn more at www.snapsheetclaims.com.

For media inquiries, please contact:

Pavan Joy Bezawada

Sales Administration, Foundation AI

Email: [email protected]

Bryan Quasthoff

Director of Partnerships & Software Operations, Snapsheet

Email: [email protected]