Expert.ai, the industry leader in AI-powered language solutions, today announced availability of the expert.ai Platform for Insurance. The expert.ai Platform for Insurance powers underwriting and claims solutions so that insurers can use natural language processing to eliminate documents from review cycles, extract needed data and prioritize which submission or claims need an expedited review or to be assigned to a senior adjuster based on complexity.
The expert.ai Platform for Insurance provides insurance teams with a way to automate the repetitive tasks associated with document reviews, extraction and assessments, freeing up time to focus on de-risking underwriting decisions, determining coverage and conducting preliminary claims investigations. Key platform capabilities include:
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Out-of-the-box data extraction for common data fields
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Urgency, severity and intent routing for claims and submissions packages
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Extraction of key exposure factors, e.g., coverage exclusions, limitations, pre-existing conditions, etc.
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Accurate summarization for human review, e.g., pre-assignment of risk grades for human validation/evaluation from property risk engineers
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Data redaction for GDPR and PII (personally identifiable information), etc.
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Record type categorization and elimination of records from review cycles
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A customizable insurance-trained language model
From submissions and claims management through policy comparison and risk engineering, the expert.ai Platform for Insurance supports even the most intricate, complex and language-intensive uses cases.
"At expert.ai, we've deployed insurance solutions for Global 100 providers across the range of workflows from claims automation and risk engineering through policy reviews and submissions intake. Artificial intelligence, in fact, offers insurers tremendous potential to transform their operations, improve combined ratios and establish a lasting competitive advantage," said Walt Mayo, expert.ai CEO. "The expert.ai Platform for Insurance provides AI-based NLP solutions to reduce time to production and scale in the future. From customizable language models to insurance use case trained models, we help insurers deliver real value across their organizations, with high levels of accuracy, significant time savings, tangible capacity gains and better customer engagement."
Expert.ai will be showcasing its Platform for Insurance during the Reuters "The Future of Insurance USA 2023" event in Chicago on June 27-28.
About expert.ai
Expert.ai (EXAI:IM) is a leading company in AI-based natural language software. Organizations in insurance, banking and finance, publishing, media and defense all rely on expert.ai to turn language into data, analyze and understand complex documents, accelerate intelligent process automation and improve decision making. Expert.ai's purpose-built natural language platform pairs simple and powerful tools with a proven hybrid AI approach that combines symbolic and machine learning to solve real-world problems and enhance business operations at speed and scale. With offices in Europe and North America, expert.ai serves global businesses such as AXA XL, Zurich Insurance Group, Generali, The Associated Press, Bloomberg INDG, BNP Paribas, Rabobank, Gannett and EBSCO.