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Hamburg-based insurtech startup DGTAL has closed a first financing round of 3 million euros. As anchor investors, 1750 Ventures, venture capital fund of VGH Versicherungen, and liability management firm Gossmann & Cie. are joining the company. Other shareholders are the Swiss software company DEON and the DGTAL team.

© DGTAL: CEO Arndt Gossmann
© DGTAL: CEO Arndt Gossmann

DGTAL facilitates analysis of insurance data

According to the founders DGTAL offers the first European platform-as-a-service that uses artificial intelligence to decode and process unstructured insurance data. The company's solutions allow for a new kind of analysis, solid predictions, better decisions and automatable processes. The startup has trained a language model specifically for insurance companies. DGTAL was founded in 2021 by a team led by Dr. Florian Herzog and Arndt Gossmann.

DGTAL impressed investors with a successfully tested prototype that can extract new insights from very large volumes of unstructured data from sources such as letters, PDFs and expert reports. With the fresh capital, CEO Arndt Gossmann and his 12-person team plan to further optimize the software and expand sales activities. The insurtech has already received orders with a turnover of one million euros for 2024, so DGTAL aims to become profitable within the next two years.

“Artificial intelligence will fundamentally change the processes and procedures of insurance companies, because it can independently read out, structure, analyze and also automatically manage the most diverse types of unstructured data in claims files. This is a paradigm shift in claims management with enormous savings potential. Currently, around 75 percent of premiums are used up in traditional claims settlement. We estimate that our AI-powered solution can enable industry-wide savings opportunities of more than 100 billion euros per year - in Europe alone.”
Arndt Gossmann, CEO of DGTAL


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