JULY - 20238 IN MYV EWBY CLAUDIO CAULA, HEAD OF GROUP DATA ANALYTICS, AIAWith advancements in artificial intelligence (AI) implementation, manual and time-consuming health insurance claim approvals could soon be a thing of the past. The speed and efficiency of health insurance claim approvals are important to insurers. When customers are financially and physically vulnerable, the time taken for medical costs to be refunded to them can influence their satisfaction levels. Driven by such needs, insurers have actively explored new ways to automate and accelerate the claims approval process. There have been attempts to implement AI into the claim approval process, but it can be a challenging task. Insurers have found the claims approval process difficult to automate as it requires complex information - such as medical invoices and lab reports - to undergo a thorough assessment process which requires deep medical knowledge. There are also concerns from insurance leaders over the impact of AI on the strength and relevance of their workforce. Recently, there has been renewed interest to use AI to accelerate the claims approval process. With the right suite of AI and machine learning solutions driven by human insights, insurers are now able to automate the end-to-end claims process electronically without any manual intervention and still achieve a high level of accuracy.So, what has changed to make this breakthrough? 1. Improvement of the technical infrastructureMore insurers are adopting cloud applications, which has made AI solutions faster and more cost-effective to execute. With cloud-hosted applications, Application Programming Interfaces (API) can be quickly integrated into current enterprise systems to automate processes. The Claudio CaulaAI'S POTENTIAL TO OPTIMIZE HEALTH INSURANCE IS FINALLY BEING REALIZED. WHAT'S DRIVING THE CHANGE?
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