An exclusive Tech Tribune Q&A with Yuval Man (co-founder and CEO) of DigitalOwl, which was honored in our:
Tell us the origin story of DigitalOwl – what problem were you trying to solve and why?
In a previous life I worked as a personal injury lawyer where I’d spend hours and hours reviewing medical records for claims. Almost 80% of my time was spent doing the repetitive tasks of reviewing medical records to understand the case and only 20% actually using my expertise to make an analysis. While at a family dinner one night, I mentioned this type of work to my brother Amit, a machine learning expert, and he told me a machine could complete these tasks. This was when DigitalOwl was formed.
What was the biggest hurdle you encountered in your journey?
When it comes to medical records there are hundreds, sometimes thousands, of pages for one client. There are on average 44,000 different medical data points for one person, many of which are irrelevant information to what the underwriter, or those examining the files, is looking for. Since this technology hasn’t been used for this purpose before, we were starting from the ground up and it was going to take time to develop. We spent the next three years teaching the technology to sift through these different data points, and ironically, the learning continues.
What does the future hold for DigitalOwl?
Our technology has proven successful at empowering underwriters to remove the repetitive tasks of reviewing medical records and instead spend their time using their expertise making appropriate recommendations. This has a ripple effect in their environment, impacting their business and mortality models with how to assess more customers quickly and with greater accuracy.
What are your thoughts on the local tech startup scene in Portland?
Portland was a natural place to establish our headquarters when wanting to expand into the U.S. We were quick to find resources who had the skills, expertise, and knowledge to share our story and grow our presence.
What’s your best advice for aspiring entrepreneurs?
Understanding your audience and consistently measuring your progress are important for continued success.