Japanese life insurer Nippon Life Group backed venture capital fund, AllegisNL Capital, which invests in insurtechs, has provided funding to Lazarus AI.
The funds aim to further Lazarus AI’s technology to expand its reach into the Japanese insurance market.
Lazarus AI is known for its foundation AI models, which streamline operations of the insurance, financial services, defense, and healthcare industries.
The company’s solutions deliver accurate results without the need for prior training, low hallucination rate, have on-premise deployment options, and feature advanced explainability logs that transparently showcase reasoning processes.
This allows Lazarus AI’s systems to provide secure, reliable, and explainable AI-powered insights tailored to complex, regulated industries like insurance.
Notably, Lazarus AI has been in a service partnership agreement with Nippon Life Group since 2023, marking the first such collaboration with a Japan-headquartered financial institution.
Takashi Okazaki, Adviser of AllegisNL Capital and Managing Director of Nippon Life Global Investors Americas, Inc., commented, “We are confident that their innovative, turnkey solutions will bring transformation to the Japanese life insurance industry, which is characterized by complex and diverse operations.
“Given their ability to address a wide range of insurance operations, from sales to claims management, we believe they have great potential for growth in the Japanese market.”
Ariel Elizarov, Chief Executive Officer, Lazarus AI, added, “We are honored to welcome AllegisNL Capital, supported by Nippon Life Group as an investor and strategic partner.
“This partnership validates the strength of our technology and mission. Together, we look forward to pioneering a new era of AI-powered insurance services, creating value for businesses and customers alike.”
