We are proud to be a sponsor of NASP's Spring Conference and are looking forward to seeing everyone. Stop by our table to see how we are reimagining the subrogation landscape. #subrogation #claims #ai
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Claim specific Document parsers and a Large Language Model (LLM) in AI such as Charlee can make sense of all unstructured data required to examine all facts of loss and look at all angles of the claim lifecycle. #Insurance #Structured #LLM #CharleeAi #charlee #ai #nlp #document #claims
Eighty percent of data in the insurance domain needs to be more structured, a challenge analysts may overlook amidst managing vast amounts of information. Learnings from Claim notes, voice recordings, PDFs, attorney correspondences, and accompanying claim files are often dependent on experience of the claims staff. Claim specific Document parsers and a Large Language Model (LLM) in AI such as Charlee can make sense of all such data to complete the information required to examine and look at all angles of the claim lifecycle. #Insurance #Structured #LLM #CharleeAi
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Here at Lowers Forensics International, we use Stratis, our proprietary platform, to pull claims data instantly and automate labor-intensive administration. This allows our accountants to build replicable models and scale claims processing quickly during a CAT or other periods of high volume when advance payment matters most. Learn more and watch a 2-minute explainer video at https://hubs.li/Q02sTYDL0 #AI #stratis #businessinterruption #insurance #claims #technology
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Forensic Accounting streamlined by automation….you know it makes sense!!
Here at Lowers Forensics International, we use Stratis, our proprietary platform, to pull claims data instantly and automate labor-intensive administration. This allows our accountants to build replicable models and scale claims processing quickly during a CAT or other periods of high volume when advance payment matters most. Learn more and watch a 2-minute explainer video at https://hubs.li/Q02sTYDL0 #AI #stratis #businessinterruption #insurance #claims #technology
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AI has changed the world in many positive ways. But what happens when AI makes a mistake that leads to serious losses? What kind of claims can AI errors cause and how high are these losses? Munich Re has been insuring the performance risks of AI models since 2018 as one of the leading providers of reinsurance, primary insurance and insurance-related risk solutions. A new whitepaper with a US-focused analysis provides guidance to insurers and brokers by highlighting, among other things, the challenges in liability allocation and discussing which insurance contracts could be triggered. Learn more: https://ow.ly/FeVZ50RvzKK
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CLARA Analytics is headed to #ATX for #ConnectedClaims and we have a fantastic speaking session tomorrow focused on prioritizing high-risk Legal Demands. Stop by our booth to learn why casualty adjusters trust CLARA’s AI Platform!
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An interesting opinion from the Northern District of Illinois discusses allegations of "algorithmic bias" in an insurer's claim handling and how that alleged bias forms the basis of a Fair Housing Act (FHA) claim. Because of increasing reliance on AI-based tools in the claim handling process, this is a new frontier for extracontractual liability. #badfaith #ai #fdcc #clm #dri
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Leveraging #GenAI models, SCOR L&H has developed a GenAI-powered underwriting and claims assistant delivering increased efficiency and driving better decision-making by providing faster access to enriched information for clients. The solution makes it possible to extract and summarise information from scanned and electronic medical reports, saving time and improving efficiency. It will soon be made available to clients. Learn more about how SCOR is harnessing the potential of #GenAI to improve underwriting and claims processes: https://lnkd.in/etGAVJ3A
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There are two ways to look at the data maelstrom churning within your enterprise: it's either a profound liability or a profound opportunity. Richard Finkelman at BRG, a 2024 AI Visionary, has both feet firmly in the latter camp. #AIVisionaries
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How can you use AI to save time, money and navigate the complexities of large-scale remediation projects? With the upcoming FCA ruling on Discretionary Commission Agreements (DCAs) potentially impacting the car finance sector by up to £16 billion, Talan UK are helping our clients get prepared. Discover how we can support you with data and AI-driven solutions in our latest blog: https://bit.ly/3wJE3Pc Joanna Smith , Kirsty Lappin, Charlene McLaughlan, Mike Parker, Jacqueline Hoey, Lester Jones, Alex Ripley, Christopher Williams
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#ai #insurers #insurance #naic 1. Insurers should maintain a written program for the use of AI systems. 2. The governance framework should be driven by transparency, fairness and accountability. 3. Risk management and internal controls should be documented. 4. Insurers are accountable for third-party vendor management. 5. Regulators may ask about an insurer’s use and development of AI. National Association of Insurance Commissioners (NAIC) - Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers - https://lnkd.in/gPm8iCNK https://lnkd.in/gDvsywaS By Gregory R. Mitchell and Emuily R. Curran - McDermott Will & Emery
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