DigitalOwl and Dynacare Announce Strategic Partnership to Leverage Generative AI to Enhance Medical Record Data Extraction in Canadian Life Insurance Market

Toronto, CA — March 19, 2024 — DigitalOwl, providers of advanced AI solutions for the life insurance industry, today announced they have entered into an agreement with Dynacare, a Labcorp company and one of Canada’s leading health and wellness solutions providers. The strategic partnership aims to redefine the life insurance industry landscape, offering a first-of-its-kind suite of solutions that enhance efficiency and accessibility for both insurers and policyholders.

Insurance companies need to read and analyze hundreds of medical documents per case – a time-consuming process, which can increase the risk of errors. DigitalOwl developed a system that reads, understands and analyzes medical documents automatically, accurately and quickly. Using a state-of-the-art, natural-language processing engine, the system extracts the relevant medical information that is necessary for assessing risk or managing a claim, providing an accurate summary for underwriters or analysts.

Dynacare supplies paramedical and lab testing services to the insurance industry and helps transform complex medical records into user-friendly, meaningful summaries. Dynacare's Attending Physician Statement (APS) delivery service combined with DigitalOwl's advanced AI technology for medical records is set to introduce novel solutions for insurers and streamline the medical record access process.

“Dynacare’s partnership with DigitalOwl reinstates our commitment to empowering the insurance industry by increasing proficiency in generative AI models that complement our robust delivery systems, providing our clients in the Canadian Life Insurance sector with an unparalleled service experience,” said Brendon Lalonde, Vice President, Business Development, Client Services and Solutions at Dynacare.

“With Dynacare’s experience and DigitalOwl’s advanced AI models, we envision a transformative change in how medical records are utilized in the insurance sector, making processes faster and more efficient for all stakeholders,” said Christian Vance, Head of Partnerships at DigitalOwl.

Focusing on scalability, Dynacare and DigitalOwl will work to deliver efficient services regardless of volume, to more effectively meet the growing demands of the Canadian Life Insurance market. Beyond insurers, the collaboration prioritizes empowering policyholders to make confident decisions regarding their life insurance options through faster turnarounds and transparent processes.

About DigitalOwl

DigitalOwl is an InsurTech platform empowering insurance professional to transform complex medical data into actionable insights with unprecedented speed and accuracy. At the core of our innovation lies proprietary Generative AI. By leveraging our comprehensive Medical Knowledge Base, our AI goes beyond entity recognition, contextualizing medical nuances for more informed decision-making.

With DigitalOwl, you can revolutionize underwriting processes, streamline post-issue audits, enhance claims processing, and achieve unparalleled accuracy in risk assessment. Our platform empowers you with actionable insights, making medical record review seamless, efficient, and transformative. Embrace the future of insurance with DigitalOwl and unlock new possibilities for your business.

Learn more about DigitalOwl here: https://www.digitalowl.com/ or follow on LinkedIn.

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