Verisk introduces a GenAI tool in Discovery Navigator, slashing insurance claims processing time.

Verisk has unveiled a new GenAI tool aimed at revolutionizing the insurance claims process. Integrated into Discovery Navigator, a leading platform for reviewing medical records in property and casualty claims, this new feature promises up to 90% faster record reviews with 95% accuracy. The GenAI-enhanced auto-summary capability leverages Amazon Bedrock’s foundation models, offering an efficient, accurate way for claims professionals to summarize records swiftly.

This advancement empowers claims handlers, regardless of their experience level, to extract and organize crucial medical data effortlessly. By significantly cutting down the time needed to sort through and summarize key treatment and medical information, the tool facilitates quicker settlements, enhancing customer satisfaction.

Moreover, the GenAI tool allows professionals to concentrate on higher-value tasks by providing immediate access to vital medical treatment data. This not only boosts productivity and efficiency but also optimizes resource allocation. The focus on more complex aspects of claims handling can reduce claim leakage and maximize the impact of deployed resources.

Verisk’s commitment to ethical GenAI use ensures these advancements are developed with stringent privacy, security, and human oversight standards. This approach underscores the company’s dedication to responsible AI use, aiming to improve operational efficiency and profitability in the insurance sector while adhering to ethical principles.