Fierce Healthcare’s Post

Will you be attending the AltaWorld Insurance Tech & Innovation Conference in Chicago next week? If so, you won't want to miss the opportunity to hear from Awais Farooq, CPCU, M.S Farooq, alongside fellow esteemed colleagues, as they discuss techniques for navigating the AI era. Drop a comment below if Awais will see you there on June 13th at 9 AM local time! 👇 #InsuranceTech #Insurtech #claimsmanagement

One of the biggest stories in the #PaymentIntegrity space right now is New Mountain Capital's merger of Apixio, Varis, and The Rawlings Group. It’s a move that feels familiar, echoing what we saw in the Revenue Cycle Management (#RCM) market, where private equity investment drove rapid growth and consolidation. Here's what’s happening in Payment Integrity: 1️⃣ Fast-Growing Market: The Payment Integrity market is growing at around 10% a year and is worth $8-9 billion in 2024. 2️⃣ Big Players and New Entrants: Cotiviti and Optum are major players, but the market is still fragmented with plenty of room for new companies to enter and grow. 3️⃣ AI is Changing the Game: AI and Generative AI are helping payers move from just recovering costs to avoiding them altogether. Many payers we’ve spoken to are eager to explore pre-pay solutions and see their potential. 4️⃣ Private Equity Money is Flowing: Similar to New Mountain Capital, KKR recently invested in Cotiviti, and ClarisHealth got backing from Pamlico Capital. Feel free to reach out to have a conversation! #PaymentIntegrity #Healthcare #PrivateEquity #AI #EverestGroup https://lnkd.in/eshQ8iTZ

Register here → bit.ly/3VyxhEm 28% of P&C insurance executives report tangible results from digital strategies, while 11% are exploring the next wave of digitization. High interest rates, natural catastrophes, and global conflicts are driving premium growth and higher reinsurance rates. Consumer expectations are rising, necessitating a more customer-centric approach. Join experts from EdgeVerve on July 24th for a networking dinner at The Capital Grille New York as we explore why and how 2024 will be a pivotal year for tech convergence in P&C insurance, with data, analytics, and AI integrating into a unified strategy. Admission is complimentary for eligible participants. Sarnali Adak Aveepsha Ghosh Ipshita Ghoshal Senjuti Ghosh Saket Bengani Sandeep Sivaram Mitch Speers Ashutosh Prasad #InsuranceInnovation #DigitalTransformation #PCInsurance #GenerativeAI #CustomerExperience #TechInInsurance #LowCodeNoCode #CloudSolutions #TechConvergence #AIIntegration #InsuranceTech #Insurtech

Kenneth Tolson, Global President of Digital Solutions, recently spoke with Syam Yellamraju, Global Head of Insurance at Persistent Systems, about the digital revolution we are seeing across the industry and the practical application of a human-centered approach to technology implementation. During the discussion, you can expect to hear about: 🤖 GenAI 🌍 Global Perspectives 🤝 Personalized Experiences Join the conversation here: bit.ly/4aKcqna #CrawfordRestores #OneCrawford

Really good to see so many customers, prospects and peers The Insurance Network event in London yesterday. Augmentation of established processes and systems was for me a clear takeaway. AI and enhanced data use is a business must, indeed by not adopting these new enhancing technologies financial institution's, insurers and any consumer led business essentially bakes in additional risks. Get in touch to share and discuss your journey and lets compare our mutual experiences & expertise. #esg #ai #insurance #underwriting #intellectai #intellectdesignarena #data #workbench #compliants #usecase Barbara Stanton Sandeep Haridas, CPCU, API

One last post from the LIMRA #lifeannuityconf. I wanted to give a shout out to my colleague from Munich Re, Rachel Eberle, who participated in a panel of industry experts discussing best practices in Automated Underwriting. Click on the graphic below to read a summary. As Rachel mentioned, it's all about getting decisions issued as quickly as possible, to insure more people efficiently and accurately. Contact me to learn more about how to better incorporate your underwriting models or deliver turnkey options into your workflow. #automation #ai #underwriting #underwritingmodels #munichre #LIMRA #insurtech

Very useful insights for those developing digital underwriting rules...

We're thrilled to feature Gerry Hassett CDir in our Inaza Insurance Industry Insiders series. Bringing over 30 years of leadership and expertise to the table, Gerry has significantly influenced the insurance sector through his pivotal roles at Irish Life and as Chair of Insurance Ireland. Currently at the helm of Insurtech.ie, Gerry is driving crucial innovations by fostering partnerships between established insurers and dynamic startups. In our interview, Gerry discusses: 🔍 The critical need for digital transformation in insurance to meet evolving consumer expectations. ⚖️ The impact of regulatory and profitability challenges on industry dynamics. 🌍 The growth potential in emerging markets and the transformative power of AI and data science. 🚗 The rise of embedded insurance and its potential to revolutionize customer experiences. Gerry emphasizes the urgency for traditional insurance firms to adopt technological innovations and collaborative strategies to stay competitive. 👉 Dive into the full conversation for a deeper understanding of these industry shifts: https://lnkd.in/duQ5VAsx What changes do you foresee in the insurance landscape? Share your views! #InsuranceIndustry #DigitalTransformation #Insurtech #FutureOfInsurance

It is no longer a question if GenAI can benefit insurers, but rather how soon and to what extent. We think the shortest path to near-term value and the smartest course to long-term success involves taking two simultaneous tracks at once. Thus, insurers should work to promote bottom-up innovation while taking a top-down approach to set the strategic direction for the enterprise and provide the necessary infrastructure and resources.

Check out the latest issue of "INSIGHT", the Big "I" of Illinois monthly magazine for an in-depth look at the state of InsurTech, featuring insights from Chris Cline, Executive Director of the Big "I" Agents Council for Technology (ACT). Discover how technology is transforming the insurance industry and what the future holds for InsurTech. Don't miss out on this must-read article! https://hubs.la/Q02BXTwT0 #InsurTech #Technology #InsuranceIndustry #ConversationsMagazine #ACTChrisCline