CYPRESS, Calif., April 11, 2022 /PRNewswire/ — Klear.ai, developers of KlearClaims, an integrated risk management platform (IRM) with Native AI, was featured in the RiskTech webinar titled, Transforming Claims Administration Through Artificial Intelligence on March 30, 2022.
The Webinar interviewed industry experts from Klear.ai as they detailed several, practical use cases of native AI transforming claims administration workflows and processes.
As pointed out by industry analysts, Redhand Advisors, "Every business has had to adapt to the changes resulting from the pandemic, including organizations that manage workers’ compensation claims. Many organizations have moved to a hybrid work environment which has resulted in modernizing their technology to accommodate."
Artificial intelligence has been identified as a highly promising solution to many of these disruptive challenges.
Key points discussed during the webinar included:
- How to best utilize AI to help with current claims system
- Learn about the different AI analytic tools that can help you understand your data
- Why ignoring your data can harm your business decision-making
- How AI models can integrate into your current workflow
- What can your data reveal in improving your claim-administration process
- How AI-driven analytics can be engaging to current and new essential workers
- Why AI & automation are ready for "touch-less" claims processing
- Applying AI automation to streamline efficiency in the claims process
The Klear.ai team was joined by insurtech and insurance industry veteran Randy Wheeler, an advisory board member to Klear.ai and founder of Valley Oak Systems. "We were very pleased to share the stage with respected industry veterans like Patrick O’Neill and David Tweedy to discuss the profound impact artificial intelligence is having on insurance and specifically on claims management," he said.
The Webinar showcased a wide range of technical and business examples with practical use cases of AI helping claims administrators with key activities including provider, nurse case, adjuster, audit, and settlement recommendation models. In one example, Klear.ai helped a mid-sized third-party administrator realize savings of $10.5 million in the annual cost of its workers’ compensation program using artificial intelligence, which is nearly 10% of their total cost of claims.
"With our unique approach using native AI and machine learning, we are at the forefront helping companies to modernize and streamline their claims administration processes. Soon, all the leading RMIS and claims companies will leverage these very powerful tools to address stubborn industry challenges," said Brijesh Kumar, CEO of Klear.ai.
Watch the complete Klear.ai and Risktech Webinar here for a limited time.
Klear.ai’s modern, secure, SaaS platform is built from the ground up with native artificial intelligence and role-based, smart automation to address the needs of the Property & Casualty Market. Klear.ai’s easy-to-use, robust claims management, fully leverages Business Intelligence and AI-based predictive analytics – all supported with smart automation and auditing.
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