Talem Health Analytics, a Nova Scotia-based tech start-up, is participating in the 2020 cohort of the Holt FinTech Accelerator.
For its latest cohort, Holt’s accelerator is focused on four verticals: cybersecurity, insurtech, proptech, and trade finance. Eight start-ups were selected to participate, chosen from a pool of 700 applications from 87 countries, BetaKit reported.
“In response to the impacts of COVID-19, we felt that the adoption of FinTech solutions needed to accelerate more than ever and adjusted our focus accordingly,” said Holt Accelerator founding managing partner Jan Christopher Arp.
Talem Health Analytics is one of two Canadian start-ups chosen for the cohort (the other being financing platform Ownest Financial). Talem Health has developed a platform that utilizes clinical and forensic engineering insights to predict the severity of injuries resulting from auto collisions. The insurtech also uses machine learning to predict the timeframe in which musculoskeletal injuries will recover.
Through this technology, Talem Health hopes to not only improve the treatment of auto collision victims, but also to combat insurance fraud and runaway medical costs.
“The insurance industry has a problem of uncontrollable litigation, fraud, and diagnostics but also unwarranted treatment, inflated billing and no-value added treatment,” a statement on Talem Health’s website said. “With the guidance of field expertise, AI and machine learning Talem Health can reduce the impact of these variables resulting in significant reductions of claim cost without sacrificing patient care.”
Holt FinTech Accelerator’s 2020 cohort begins July 27, 2020; it will be held online due to the ongoing pandemic.
