Solva: Harvey for insurance
Harvey for insurance - AI that automates insurance claims and stops wrongful payouts
TLDR: We are building Harvey for insurance. We help insurers automate claims and stop wrongful payouts using verifiable AI agents.
Our team has spent the last decade battling legacy systems and dogma across highly regulated sectors of the financial industry. We’ve founded an EU-licensed bank (under the EBA CRD) and been part of scaling Europe’s fastest-growing InsurTech. We’ve seen firsthand the challenges with manual claims handling and how AI can fundamentally transform this process
The problem
Yearly insurance claim payouts total more than $6.5 trillion (6% of worldwide GDP). The way insurance is sold has evolved considerably, but the handling of claims has remained largely unchanged since the early days of the internet. Due to the inconsistent nature of manual processing, handling errors alone are estimated to cause more than $200B in wrongful payouts per year. Add another $75B to that number for administrative operating expenses, and a rough idea of the true cost emerges.
The industry’s fix to this problem? Windows 2000-era admin UIs glued onto IBM mainframe systems, fragile RPA-automations that break every Feb 29th, and an army of adjusters. The result is a mess of growing complexity - and customers pay the price.
The solution
Solva automates repetitive tasks and prevents wrongful payouts using verifiable, self-learning AI agents - built to run seamlessly on top of any existing claims stack.
Solva’s system:
- Detects incomplete evidence
- Identifies breaches of policy terms
- Exposes fraudulent behavior
- Delivers source-cited claim recommendations
We bring claims handling from punchcards to Claude Code - helping insurers to stop spending billions on repetitive tasks and wrongful payouts.
The team
- Herman Båverud Olsson
Herman is the CEO and Co-founder of Solva. He was previously part of scaling Lassie to $50m, which was recognized by Sifted in 2024 as Europe’s fastest-growing InsurTech. Before that, he led AI and machine learning transformations at BCG X. He also has experience in FinTech and InsurTech from his time at Morgan Stanley - Linus Malmen
Linus is the CTO and Co-founder of Solva. Before Solva, he co-founded Zaver (most recently starred in CNBC), a European neobank processing over €1 billion annually under an EBA-CRD license. Clients include Porsche, Volkswagen, and Loewe. He has led AI development for leading tech companies long before AI became the norm and his work has been featured in TechCrunch, Bloomberg, and Forbes - Sorena Amini
Sorena is the COO and Co-founder of Solva. He previously built tech-enabled companies in traditional industries, including Odevo (from $5m to $7b) and KeyTo (from $60 to $250M) during his time at Fidelio. He has longstanding experience in highly regulated financial industries, including advising insurance and InsurTech companies during his time at Citi