NovaData Solutions Inc.

📍 Philadelphia, United States🗓 Founded 2021👥 13 employees💰 Last funded Apr 2024

Information Services 🌐 novadata-solutions.com

NovaData-Solutions Inc. is a Philadelphia-based insure-tech, software as a service (SaaS) company offering a secure platform for automated restoration invoice scraping, auditing and analysis. The platform, Rest-Assured™, leverages advanced data strategies, OCR data capture and AI learning to drive operational efficiencies, increase effectiveness of financial anomaly detection, and accelerate the audit process. Rest-Assured™ technology produces automated assessments of invoices, allowing reviewers to focus more time on analyzing results and less on manual review and entry activities. Insurance industry data confirms that insurance companies and policyholders experience significant financial leakage in the resolution of claims for property restoration services. The leakage is estimated to be between 8-15%, translating to approximately $1.9B in overpayments every year. Rest-Assured™ is an expert tool designed for audit and insurance claims professionals to: 1. Maximize efficiency and consistency in the invoice audit process; 2. Drive down loss adjustment effort and costs; 3. Shorten the turnaround time for payments of undisputed aspects of claims; and, 4. Reduce financial leakage. Efficient - Effective - Unbiased

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2021

Founded