In this episode, Joe interviews Lukas, co-founder of Minds Medical, and Ingo, senior partner of SYNPULSE. The story follows the pivot of Minds Medical from a healthcare-focused AI startup serving hospitals to its services for fintech/insurtech companies during the COVID-19 pandemic. They also discuss the challenges of extracting structured data from unstructured medical documents and the potential applications of this technology in the insurance industry. The conversation highlights the joint offering of intelligent document processing for the insurance industry and the acquisition process between the two companies.

When Corona hit, all hospitals stopped picking up the phone. So we had to focus all our energy on the insurance product.

Lukas Naab, Founder Minds Medical

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With SYNPULSE8 we are now building a product for the global insurance market.

Lukas Naab, Founder Minds Medical

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We discovered for example that one large hospital in Germany has more than 200 different forms just to discharge patients. [And there are more than 1.800 different hospitals in Germany]. This amount of unstructured data requires machine learning and AI to be useful.

Lukas Naab, Founder Minds Medical

Lukas is the founder and CEO of Frankfurt-based AI startup Minds Medical. Since the acquisition of Minds Medical he is in the new company the principal product owner for SYNPULSE8. During the outbreak of corona, hospitals had many other things to do and just stopped picking up the phone, all at the same time. So Minds Medical had to focus completely on their insurance product. They eventually decided to join forces with SYNPULSE since they already had a joint offering for disability insurance providers.

Minds Medical was acquired by SYNPULSE, now known as SYNPULSE8. This becomes part of their offering to insurance companies and insurtech startups, active in the healthcare space. The problem these insurers are facing is the sheer amount of unstructured medical data they get bombarded with...