HOW TO USE AI IN THE INSURANCE VALUE CHAIN: CLAIMS MANAGEMENT

SILKE GENUIT | September 11, 2018

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In our  2017 Technology Vision for Insurance, we highlighted how Fukoku Mutual Life Insurance in Japan is using the IBM Watson Explorer AI platform to classify diseases, injuries, and surgical procedures as well as to calculate claims pay-outs. Our research has shown automated machine classification can be 30 percent more accurate than manual classification by humans and has the potential to increase productivity by 80 percent. AI-related technologies can enable a higher quality in claims assessment, management and administration. It also supports improving the predictability of reserves and fraud.

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HNI is a performance-driven risk advisor that delivers insurance, benefits, and advisory strategies. We work with ambitious leaders to reduce insurance dependency and boost performance from locations in Milwaukee, Chicago, Minneapolis and Grand Rapids, Michigan.

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