Cogito forImprove Customer Experience and Reduce Claims Leakage
Cogito for Claims uses AI-based Natural Language Understanding to help insurers cut fraudulent claims payouts and leakage, speed customer and broker response, and respond to surges in claim volume without increasing headcount.
Reading unstructured medical reports and claims documentation to extract essential details is tedious work that can now be automated. As a result, more documents can be included in claims analysis, and with higher accuracy.
The outcome is more fraud signals identified, more medical data considered, and more claims given scrutiny rather than simply paying by default. And with the most time consuming task automated, claim response is cut to a fraction, creating a faster response for improved customer and broker experiences.
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Automatically recognize document types (such as medical reports, claim forms, invoices, FNOL, etc.) and review claim packages to evaluate their complexity and route them accordingly.
Extract relevant information from each document in seconds, such as the role (driver, victim, insured, etc.), the injury and treatment codes from the medical report (applying ICD-9 and -10).
Automatic comparison and final valuation
Analyze the claim described within a report, understand if it is covered by the policy, help claims handlers determine liability, give suggestions for based on the facts of the case.
Populate your claims database by automatically uploading the relevant data.
Increased efficiency based on high levels of accuracy in unstructured data access (human-like accuracy of >80%), faster processing times (from hours to seconds), standardization, detection of fraud signals and improved customer experience.
Cogito for Claims enables easy and accurate access to key pieces of information present in unstructured documents such as medical reports, accident descriptions, legal correspondence, emails, pdfs, and more.