Arcimus

📌 TLDR: When you hire employees, you’ll need Workers’ Compensation Insurance. The price for this insurance depends on your payroll and employee duties. Since your payroll and employee duties change annually, you’ll go through an audit process to determine the proper amount you should be paying. In the backend, this process is costly and inefficient, and you probably end up underpaying/overpaying. We use a combination of LLMs and human judgment, leading to higher-quality audits at half the price of traditional audit solutions.
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Hi everyone, we’re Hussein and Omar, and we’re creating Arcimus!

📑 Problem:

Workers' compensation insurance pricing depends on a business’s total payroll and its employees' duties (a roofer is at higher risk of injury than a Software Engineer). However, these factors change as companies hire/fire and change salaries.

Every year, insurance companies contract auditing firms or individual premium auditors to hand review their customers’ information. They report changes in total payroll and employee duties, enabling insurance carriers to assign them a new premium.

This manual process can take auditors 1-3 hours per customer annually and is prone to human error. Insurance carriers are at a high risk of failing state compliance tests and getting fined due to human errors.

🤖 Our Solution:

We use a combination of LLMs and human judgment to read a customer’s documents and compile their information into the same final report created by premium auditors. We can do this within minutes, at half the cost, and with higher accuracy than any singular auditor.

📖 Our Story:

We were originally S23 but decided to demo with W24 because we pivoted mid-batch from AI meeting notes (yeah, we know…).

We talked to dozens of insurance workers and eventually learned about premium auditors. After talking to ~50 premium auditors, we had an inkling that their processes were ready for innovation. To better understand their jobs, we decided to go back to school in the middle of YC and take a community college class on premium auditing.

Like any other college experience, we graduated from YC with 9-5 jobs as premium auditors. After working as premium auditors for 3 months, we were able to write code to automate parts of the premium audit process. AI and humans together led to unmatched performance and dramatically less cost, better than any auditor alone.

🙏 Our Ask:

Are you an insurance carrier or premium audit vendor: We’d love to meet and see how we could fit into your workflow! Email us!

Customer Intros: If you have contacts at insurance carriers or premium auditing vendors we'd love an introduction to talk to them! Email us!

Feel free to reach us at founders@arcimus.com