Insurance Claims Insurance Underwriting Intelligent Intake 5 ways insurance process automation reduces errors and increases profits October 3, 2023 by adamdev Insurance companies inherently know that errors, whether in claims or underwriting processes, are bad for business. Less understood is how automating claims and underwriting processes can reduce errors, leading to potentially outsized business gains in terms of loss and combined ratios, and improved underwriting capacity. Itās a potentially sticky issue because as insurers assess options […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake Unlocking success in intelligent intake: Strategies, opportunities, and metrics October 2, 2023 by adamdev In today’s rapidly evolving business landscape, intelligent automation has become a cornerstone of efficiency and competitiveness. In a recent episode of “Unstructured Unlocked,” Thomas Mandel, a transformation manager at Cushman and Wakefield, joined hosts Chris Wells and Michelle Gouveia to explore the intricacies of intelligent intake and its role in modern organizations. Listen to the […] Read more Ā»
Artificial Intelligence Insurance Claims Intelligent Intake AI can indeed help automate insurance claims processing ā but it wonāt replace humans September 26, 2023 by adamdev In their never-ending quest to automate claims processing, insurance companies are naturally turning to artificial intelligence (AI) technology. And plenty of vendors are more than willing to assure you AI will bring you to the promised land of straight-through processing (STP). Indico Data is not one of them. Thereās no question AI can and does […] Read more Ā»
Insurance Claims Intelligent Intake 3 ways automated claims processing helps detect insurance fraud September 20, 2023 by adamdev Fraud has long been an issue in both retail and commercial insurance, but now carriers are finding automated claims processing technologies including intelligent document processing and artificial intelligence provide a way to fight back. Insurance fraud costs U.S. businesses and consumers $308.6 billion per year, according to the Coalition Against Insurance Fraud. The top 5 […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake How to eliminate manual processes in insurance claims and underwriting September 11, 2023 by adamdev Thereās a problem plaguing the insurance industry, and itās easy to understand: itās too dependent on manual processes and needs a heavy dose of automatic data submission. Whether itās first notice of loss (FNOL) documents for claims or broker submissions for underwriting, the industry is rife with documents that traditionally require a hands-on approach to […] Read more Ā»
Insurance Claims Intelligent Intake How automating claims intake streamlines settlements, saves time, and boosts customer satisfaction August 28, 2023 by adamdev Failure to process claims quickly and accurately is the best way to lose customers in the insurance industry, which is why so many commercial insurers are interested in using artificial intelligence to automate claims processing. The first step in that effort is to streamline claims intake processes, an area where AI-based intelligent intake solutions shine. […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake Unstructured Unlocked What insurance carriers can learn from VCs about vetting technology vendors July 25, 2023 by adamdev Watch Christopher M. Wells, Ph. D., Indico VP of Research and Development, and Michelle Gouveia, VP at Sandbox Insurtech Ventures, in episode 24 of Unstructured Unlocked with guest Jay Novis, Investment Associate at QBE Ventures. Listen to the full podcast here: Unstructured Unlocked episode 24 with Jay Novis The latest episode of the Unstructured Unlocked […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake Insurance automation: How to find the best products and measure their effectiveness June 22, 2023 by adamdev Insurance company IT execs charged with finding solutions to help automate insurance processes likely donāt think much about venture capital firms like mine. But a recent discussion prompted me to consider how our approaches have a lot in common: we both search for viable technologies to address known pain points. This thought occurred to me […] Read more Ā»
Artificial Intelligence Insurance Claims Insurance Underwriting How to avoid AI bias and gather better data for insurance claims and underwriting June 8, 2023 by adamdev Making the best decisions in insurance underwriting and claims comes down to having good data, and lots of it. That becomes abundantly clear when you talk to a chief data officer for a large insurance company and learn about opportunities to collect data, where data is lost, and how to deal with biases in the […] Read more Ā»
Insurance Claims Insurance Underwriting Intelligent Intake How insurers can get over the legacy hurdle and adopt automation technology June 5, 2023 by adamdev Insurance companies often find themselves in a tough spot when it comes to adopting new technology to automate underwriting submissions, claims handling, and other functions: whatever they adopt has to integrate well with their legacy technology. And in the typical insurance company, there is no shortage of legacy technology. Itās an industry thatās famous for […] Read more Ā»
