Aon and Athenium Analytics develop high-risk claims solution

Aon is working with predictive analytics company, Athenium Analytics to develop a next-generation claims quality platform to enable insurers to identify high-risk claims.
The insurer hopes the collaboration will produce around 4% to 6% improvement in claims indemnity and expenses.

A web-based platform, Claims Signal assesses, analyses and improves the quality of claims handling using AI, natural language processing and predictive analytics to continuously examine open claim files -- enabling insurers to uncover any high-risk claim characteristics and provide real-time alerts to help mitigate those risks early in the claims cycle.

John Wang, partner at Aon Inpoint, commented: “Insurers are always looking to achieve more insights from their claims data. But all too often, we see carriers sitting on a wealth of valuable information with limited tools to leverage it for both their operations and policyholders. The partnership between Aon and Athenium Analytics with the launch of the Claims Signal platform opens a world of new opportunities for insurers of all sizes. Predictive analytics enables carriers to be proactive instead of reactive."

Bill Pardue, chairman and CEO of Athenium Analytics, added: “We are delighted to be partnering with Aon to build the future of open claims analytics with the Claims Signal Platform. Aon’s insurance pedigree and technical prowess, combined with our predictive modelling, data science and engineering expertise, allows carriers to tap into years of historical claims data to optimize claims, increase customer satisfaction and make smarter business decisions.”

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