Automation Processes More Claims – Legit or Fraudulent ASAP Video Transcription
As you know, documents are submitted with most insurance claims. A company that processes hundreds of thousands of claims per year will need to process millions of claim documents. A simple document view just validating names, addresses and policy numbers translates to a document management department with dozens of people.
How Claims Automation Reduces Labour
Automation of document verification will significantly reduce that labor. If you further need to look at documents for fraud detection purposes, that adds even more labor requirement. Being able to analyze manipulated document metadata, previously used images from other claims or images or documents that are inconsistent with the geographic location are flags for fraud. When we combine this with AI software that can analyze the claim details, that automated document verification, we can increase straight-through processing rates, reducing the time required to reimburse your customers and to minimize unnecessary and wasted labor. AI done right delivers verifiable financial outcomes.