Increase STP Rates Using AI for Claims Automation

Increase STP Rates Using AI for Claims Automation Video Transcription

The insurance industry has been undergoing a digital transformation for more than a decade. Consumers want their claims processed quickly, and every year they want it closer to real time. Current investigative and adjudicative practices require significant human labour effort to review documents and claim details.

How Halo Based Automation Can Help

Halo based automation uses sophisticated AI borrowed from the aerospace industry and can automate those high volume, low materiality claims, and can even recommend lower cost human investigative or adjudicative review for some of those claims. This will increase straight through processing rates and reduce the labor cost for claims adjudication.

What Does the Halo Identify?

Halo identifies outlying claims people physical and virtual places and social networks. Halo effects are fraud and high risk. AI done right delivers verifiable financial outcomes.