Contact person: Vinay Kumar
Email address: [email protected]
Contact number: +919699925432
Asia and ANZ
The Digital Insurer Startup InsurTech Award
Arya.ai is an Autonomous Deep Learning platform enabling enterprises & businesses to build and manage Autonomous Agents which can learn/re-learn without any human intervention. Arya.ai product portfolio includes: Vega – workbench for deep learning; Autonomous Agents for insurers and banks. Vega can automate complex data science tasks in building a deep learning product. And the autonomous agents are trained on specific industry tasks make it easy to deploy and customize without any need of data-scientists/researchers. Arya platform is environment independent and can be used on cloud or on-premise. Arya managed cloud also offers complete flexibility for end user to launch training or inferencing server on multiple cloud platforms.
Deep Learning offers the much needed answer for financial service players to handle the growing complexities in processes, data and threats. Even though there were many attempts to test and deploy deep learning in the past two years, very few have been moved from test phase to production with very limited capabilities. This is primarily because financial instructions go through rigorous tests and needs superficial performances to move to production. And as this is also highly regulated business, makes it impossible to take black-box models into production. This limits the influence of Deep Learning in core business process. Current traditional Machine Learning based systems have been used as a substitute but offer very low precision and Straight Through Process (STPs) offering very low business value. This results in tremendous loss for financial service industry both strategically and operationally. In addition to this, talent scarcity for deep learning, lack of expert knowledge and high growth in enterprise hardware makes this a very risky and expensive path.
Arya.ai aims to solve this for financial institutions. Arya.ai offers Vega – workbench for deep learning and Agents – Automated Claims, Automated Underwriting & Pricing etc for insurers.
Claims Processing in high operational intensive process in any insurance company and needs huge processing time to give response to customers. And increase in frauds is another big threat for insurers. It becomes almost impossible for any human dependent process to track these frauds/risky claims effectively. Autonomous Claims Agent on Arya.ai can automate the complete process from pre-authorization to adjudication without any human intervention and can learn & re-learn the anomalies in the process from the experts. It takes less than 0.2 seconds to process a claim. It needs very less expert hours to train the system and can be completely autonomous while in production.
Autonomous Claims Agent is in production in one of the leading private general insurer automating 85% of claims. The precision of the system is greater than 95% with recall of 96% making it highly reliable. It can consider more than 450+ parameters in a claims process. It already delivered 40% reduction in operation costs in claims processing.
Arya.ai started in 2013 by Vinay Kumar & Deekshith, researchers from IIT Bombay. With initial team of 7 researchers, arya.ai launched ‘Braid’, an open-source framework for deep learning. Today Arya.ai has multiple researchers from leading institutes like IITs, UCLA, IISc etc working on new autonomous agents and hardware. Vinay Kumar is youngest member of ‘AI Task Force’ setup Industry and Commerce Ministry created by Indian Government for policy making and guidelines. Vinay kumar is also key speaker among multiple tech and enterprise conferences like GTC San Jose (Nvidia), ML Summit – San Fransisco (Google), Re-work (London & San Francisco), TEDx etc. Vinay Kumar’s research in IIT Bombay was primarily on building an ‘Framework for Autonomous Agents in Manufacturing using Deep Learning’. Deekshith research was on creating NLP translation for local language for Google Inc.
Today Arya.ai works with leading Fortune 500 companies in India, UK & Europe with majority of customers in Financial Services – Banking & Insurance. Arya.ai also have established global partnerships with Google, Infogain, Oracle, Nvidia and Intel. Arya.ai was part of InsurTech accelerator from Swiss Re in 2016 & Catalyst accelerator from Societie Generale in 2016.
Vinay Kumar & Deekshith are listed in Forbes 30 under 30 in 2016 when they are 25 & 26;
Arya.ai is named as emerging deep learning startups by Nvidia in 2016
Arya.ai is among 25 APAC AI companies listed by CIO Advisory
Arya.ai is named as top 4 next generation technology startups by Silicon Valley Forum in 2015
Arya.ai was first Asian startups to be picked by Paris&Co, innovation agency from France in 2015