NovaData Solutions

NovaData Solutions is a technology startup that offers a platform called Rest-Assured, designed to expedite the process of identifying issues on property restoration invoices. The platform uses advanced data acquisition techniques, business rules, and artificial intelligence/machine learning (AI-ML) strategies to ensure that bills are compliant, reasonable, and appropriate to pay.

The company's primary clients include adjusting firms, third-party administrators (TPAs), building consultants, insurance companies, and businesses that have self-insured property losses. These clients use the platform to compare expense rates and ratios against industry norms, thereby finding savings while minimizing cost and effort.

Rest-Assured's business model is based on providing a faster, more efficient alternative to traditional invoice processing. The platform can deliver results in 1-2 days, a task that would typically take a building consultant weeks to complete. This speed and efficiency translate into significant cost savings for clients. For instance, the platform recently processed 30 restoration bills for a client, saving them over $1 million out of a total of $4.3 million submitted.

NovaData Solutions operates in the property restoration and insurance market, offering a unique solution that combines advanced technology with industry expertise. The company generates revenue by charging clients for using the Rest-Assured platform.

Keywords: Property Restoration, Invoice Processing, Data Acquisition, Business Rules, AI-ML Techniques, Adjusting Firms, Insurance Companies, Cost Savings, Efficiency, Technology Startup.