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Smart Claims – SilverBridge
Enabling insurers to process claims in real-time and reduce the risk of
Smart Claim is a claims
automation solution. It uses artificial intelligence(AI) modelling to replicate the insurance expert's
decision-making and enable claims to be processed in real-time, while providing necessary risk oversight.
Smart Claim is a claims automation solution. It uses artificial intelligence(AI) modelling to replicate the
insurance expert's decision-making and enable claims to be processed in real-time, while providing necessary risk
The Business Challenges
Human-driven decision-making at different levels creates a slow and inefficient claims process.
Data used in the decision-making process is manually collected, which is time-consuming and
External data is seldom used to verify the validity of internal data and claims.
Consolidation of multiple data sources presenting a single view of your data.
Different individuals involved in decision-making create inconsistent and potentially error-prone
10% of claims are fraudulent, but 100% of customers are treated as suspicious claimants, which
creates a poor customer experience.
The Smart Claims solution includes an internal and external risk score and intelligent decision-making, which enables
the straight through processing (STP) of an insurance claim.
The solution presents insurers with the opportunity to improve customer experience whilst mitigating risk. The
solution improves business efficiency, allowing staff more time to attend to higher value tasks.
How it works
The Smart Claim solution integrates directly into the insurance line of the business system, as well as all other third-party data sources used for claims decision-making.
The AI modelling process virtualises expertise of the best decision-making at an insurer there, ensuring expert
attention can be given to every claim processed within the organisation. These models are continually assessed to
ensure they make the best decision possible. They can quickly be retained and redeployed in reaction to
market changes with no impact on existing business processes.
Straight-through processing of claims in real-time
Multiple sets of internal and external data can be used simulating in the decision-making
Real-time insight from multiple experts e.g underwiter, compliance, legal can be applied to all claims
Automated detection of claims with higher fraud risk
Better claims decisions are made while border risk and ethics are taken into account
Decreased pay-out of fraudulent claims
Improved accuracy due to a fully automated process which eliminates the risk of human error by 100% on
Enhanced customer experience
Improved focus and optimisation of insurance expects time
Commercial, business risk, and ethics are considered in all underwriting decisions
SilverBridge and Astute
Exchange have partnered - Patrick Ashton
If you'd like to find out more about our Smart Claims, leave your
details, and we'll call you back.
Request a Demo for Smart Claims, leave your details, and we'll call you back.