Insurance Innovators London, a prestigious gathering of forward-looking industry leaders, witnessed an insightful discussion about insurance’s bright future. During the event, Mike Saltzman, the Co-Founder & Co-CEO of EvolutionIQ, discussed the impact artificial intelligence has had in claims management.
AI is not just improving claims processing efficiency, it is fundamentally altering the economic dynamics of the industry as a whole. This shift is so significant that it has prompted executives to reevaluate and prioritize claims technology projects because of their transformative ROI and results.
In his talk, Saltzman explained how artificial intelligence is now being used by 70% of the top 15 American disability insurance companies. He highlighted the role EvolutionIQ’s Claims Guidance plays in streamlining processes–reducing delays, and enhancing accuracy in claims handling.
Saltzman focused on how AI tools are empowering claims professionals, enabling quicker decision-making and boosting the efficiency of claims processing at scale. laimant outcomes and experience are consistently improved, resulting in a dramatic increase in people returning to work sooner–benefiting the employer, the insurers, and the claimant.
Saltzman also conveyed how AI refocuses examiner’s attention through prioritization and automation, allowing them to take actions that are more compassionate and effective during the lifecycle of a claimHe presented case studies from various insurance carriers that have successfully implemented AI in their claims processes. In these examples, AI demonstrated tangible benefits, including cost savings, improved accuracy, and increased customer satisfaction.
The presentation concluded with a dynamic Q&A session, during which Saltzman answered a variety of audience questions, ranging from how to get buy-in for claims AI implementations to how to best facilitate successful modernization projects and measure ROI.
As new technologies threaten the status quo, Evolution offers carriers and TPAs an opportunity to leverage artificial intelligence to safeguard their claims operations and future-proof their business. During the Insurance Innovators London conference, forward-looking insurance executives saw how leading carriers are reducing reserves and redeploying capital through improvements in their claims organization. For more information about how Claims Guidance has helped customers improve claims efficiency, please contact us. Or, for insights and updates, we encourage you to stay tuned to our blog, where we continuously explore the latest trends and innovations in Claims Guidance technology.
