A.I in Insurance: Automated Claims Assessment Tool Gleematic

AI in Insurance: Automated Claims Assessment Tool

The growing potential of Artificial Intelligence is being used in a variety of ways in the insurance industry. It seems that AI-based insurance solutions for claims processing and protection are still in their infancy. However, many applications of AI are already working in the insurance industry, especially when it comes to automated claims assessment.

Benefits of Using AI-Powered  Claims Assessment Tools

By intelligently automating existing workflows, insurance companies can reduce the time and resources required to process claims. To develop a valid risk assessment tool, training data would need to be defused using a method that would draw them out from the second source of truth and provide a way to determine whether the process is valid and successful. Any developer or jurisdiction that uses a risk assessment tool must ensure that the tool provides information in a simple way.

If companies are using such tools properly, judges, lawyers, and court staff should have the ability to understand how their claims are interpreted. The data could also be used to develop tools to help consumers assess market planning options by comparing the payment methods of claims as well as the price. Automatic damage assessment and image analysis is much faster and more accurate.

With Artificial Intelligence (AI), insurers can automate the claims process, saving time and resources that go into the underwriting process, lengthy questions, and surveys. A consistent and agile workflow for handling claims enables claims assessors to respond to customers more quickly and accurately, thereby creating a smoother customer experience. The faster the process is and the shorter the tedious tasks of automation technology, the more damage assessors will be able to assess more of them. Most importantly, this new tool further helps to deliver cost savings and a timely return to work.

Learn More Cognitive Automation for Insurance

How A.I Works in Automated Claims Assessment

By capturing customer-specific data in key areas, the tool enables companies to create a complete report by calculating the impact of automated laser application technology on a customer’s claims process compared to their existing process. With additional analyses in combination with audit results, it can identify process problems by checking suppliers’ payment flows. 

Suppliers who are overwhelmed with their current claims risk game and recognize the need for change should consider introducing an automated claims and risk management system. Moreover, self-assessment tools have an integrated process for claims processing so that the status of claims can be initiated and tracked.

Read About Making Use of Automation in Insurance

This allows companies to rely fully on image recognition technology for the first stage of claims automation over time. After then, automatically settle claims and resolve insurance fraud cases. As new AI tools constantly reinvent claims management, payouts will inevitably involve a significant increase in the quality of customer experience and a reduction in claims costs. The value that will be generated from AI use cases in the future requires that carriers integrate skills, technologies, and insights from across the organization to provide a unique and holistic customer experience.

The report seeks to address the technical and human challenges at the computer interface that prevent risk assessment tools from being used to inform fair decisions. In this case, “human-computer interface” refers to how people collect and feed information into the tool and how they interpret and evaluate the information generated by the tools. The staff no longer have to stay overtime at work and can get Gleematic to do the job. Gleematic is definitely can help companies to reduce human errors, save time and costs, and increase productivity.

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Reference

Webb, R. (n.d.). 6 Benefits Utility Companies Can Achieve With Automated Risk Management. ClearRisk. Retrieved February 4, 2021, from https://www.clearrisk.com/risk-management-blog/benefits-of-risk-and-claims-automation-utilities


 

Written by Elsa Ajarwati

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