Mon. Apr 15th, 2024

Artificial Intelligence has arrived to revolutionize the insurance sector. From risk assessment and process automation to fraud detection and customer experience improvement. In connection with this, Expert.ai has introduced a new platform designed specifically for the insurance industry, which provides the ability to automate important processes, such as policy underwriting and claims management, through human language processing. This allows experts to focus on higher-value activities, while reducing the risks associated with policy decisions, coverage is accurately determined and research is conducted to improve the system. “Deploying customizable industry models trained on specific use cases, this new platform brings language processing capabilities with high levels of precision to reduce time to production and deliver real value, increase efficiency and improve customer service,” says Walt Mayo, CEO of expert.ai. Key capabilities of the new expert.ai platform include: Out-of-the-box data extraction for the fields of most common dataRedirection of requests and claims due to urgency or severityExtraction of exposure factors (exclusions, limitations, pre-existing conditions, etc.)Summary of data for review for validation by risk engineersGeneration and writing of data for analysis purposes compliance (GDPR, PII, etc.) Categorization of records. Debugging records in review cycles A language model specifically trained in the world of insurance

Artificial intelligence for the insurance sector

With the new platform, risk engineers will be able to automate scoring and exposure analysis, as well as identify policy inconsistencies. The platform increases review capacity by up to 4X and allows you to automate risk scoring by category. Contracting managers, for their part, will see accelerated review, comparison, and redirection of policies based on classification guidelines, thus reducing exposure to risks and guaranteeing the veracity and standardization of coverage. Finally, claims managers will be able to automatically extract the necessary content to speed up processes, improving objectivity and accuracy and reducing claims review times by more than 50%. % and document review times up to 90%.

By Alvaro Rivers

Award-winning student. Incurable social media fanatic. Music scholar. Beer maven. Writer.