Aon has launched its new AI-powered ClaimsMonitor.X platform, a system that uses natural language processing to read claims notes to identify if adjusters are following best practices.
Aon’s own research suggests that supervisors spend over 40% of their diary time reviewing open files to determine if the claim is being handled in compliance with the insurer’s internal best practice guidelines. Having the ability to focus on only those claims that require intervention will increase the productivity of a claims supervisor’s time – enabling them to focus on customer service, resolution strategies, complex claims, coaching and performance management.
Head of claims for Aon Inpoint, John Wang, commented: “ClaimsMonitor.X brings an exciting opportunity for insurers to benefit from the power of artificial intelligence and NLP. By leveraging our experience with over 100 P&C carriers in consulting and software engagements, we have contributed to the delivery of 2% to 4% in loss ratio improvement. We continue to add new solutions to improve adjuster performance and claim outcomes. Artificial intelligence coupled with CMX will revolutionize the next generation of claims leaders and organisations. Our growing collaboration with CLARA reflects Aon’s technological evolution to deliver new products that meet clients’ needs today and tomorrow, in a transparent and efficient way.”
Global chief claims officer for Aon’s Commercial Risk Solutions business, Neil Harrison, added: “Our clients expect and deserve best in class claims services from insurers for both claim process and outcomes. This solution has an important role to play in ensuring these expectations are met. Speed and accuracy at all phases of the claim journey are key for insurers and customers alike.”
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