TempusDirect has secured a strategic investment from Aldrich Capital Partners to accelerate growth of its technology-enabled claims cost-containment platform for the U.S. property and casualty insurance industry.
The investment will support product development, client services, business development, automation, and expansion of TempusDirect’s technology platform.
Founded in 2016, TempusDirect helps insurance carriers manage third-party claims costs by providing data-driven tools to evaluate medical charges, negotiate provider settlements, and review attorney demand packages.
The company’s platform includes three primary solutions.
Its bill validation and benchmarking product uses proprietary claims data to evaluate medical expenses and establish benchmarks for attorney-represented claims.
Its direct provider negotiation service works with healthcare providers to resolve medical bills involving unrepresented claimants.
TempusDirect also provides demand package reviews that give insurance carriers data-driven assessments of medical expenses presented during the demand stage of attorney-represented claims.
The company said these capabilities help carriers make more informed claims decisions, reduce costs, and accelerate resolution while maintaining consistency across the claims process.
Aldrich Capital Partners specializes in technology-driven business services companies and plans to support TempusDirect as it expands its platform and adds more AI capabilities.
The investor said its internal AI team will work with TempusDirect to deploy more advanced capabilities for insurance customers.
TempusDirect is headquartered in Tempe, Arizona, and operates using a proprietary database containing historical claims information from multiple insurance carriers.
KEY QUOTES:
“Our partnership with Aldrich marks an exciting next chapter, providing the resources and strategic support to accelerate innovation, expand our capabilities, and deliver even greater value to our carrier partners.”
Greg Gaughan, CEO And Co-Founder Of TempusDirect
“As carrier demand for our solutions continues to grow, this investment allows us to expand our capacity, continue innovating across our platform, and keep delivering the speed and accuracy our partners rely on.”
Josh Dickerson, COO And Co-Founder Of TempusDirect
“Customers and industry experts consistently pointed to the clear, demonstrable return TempusDirect delivers. We see a significant opportunity to build on that foundation by expanding the platform’s capabilities, having the ACP AI team deploy more advanced capabilities for clients and serving an even broader set of customers in the years ahead.”
Raz Zia, Managing Partner At Aldrich Capital Partners
