Generative AI in Claims – What’s Real and What’s Next
EPAM hosted an insightful session at ITC Vegas 2024, delving into the future of AI in insurance claims management. This event, part of the claims track, featured discussions led by our industry experts Jason Freedman, Steven Tesler and Gopi Daram. Watch the video below to learn more.
Generative AI is revolutionizing the claims management process, offering an unprecedented opportunity for insurance companies to enhance efficiency and accuracy. This innovative technology promises to transform every phase of the claims adjustment value chain.
Key Takeaways from the Event
Advanced Technology for Efficient Claims Handling
Our conversation with Jason Freedman, Steven Tesler and insights from Gopi Daram included live demonstrations like digital ingestion using insurance documents. These demos showcased how Generative AI integrates into and optimizes existing claims processes.
Real Client Use Cases and Practical Applications
We discussed real-world applications of Generative AI, with examples drawn from actual client scenarios including claims processing. This provided attendees with tangible evidence of Generative AI’s impact on improving operational efficiencies.
Business Value of Generative AI
The business benefits of Generative AI were a major highlight — showing rapid gains in processing efficiency that directly translate into cost savings and improved customer satisfaction. The session emphasized how these technologies are quickly becoming indispensable in modern claims handling.
Integration with Existing Technologies
A critical focus was on how Generative AI seamlessly meshes with existing technologies within the claims ecosystem. We demonstrated how it enhances rather than duplicates, boosting the current systems with advanced capabilities.
Insights from Industry Leaders
During a dynamic conversation between our EPAM leaders and an exploration of case studies and live demos, session attendees gained a comprehensive understanding of how Generative AI can be a game-changer in claims processing. This session was an eye-opener for many about the potential and practical benefits of Generative AI in insurance claims, highlighting its role in driving efficiencies and enriching the customer claims experience.
Join us to discover how Generative AI is not just complementing but revolutionizing the claims industry, ushering in a new era of efficiency and insight-driven decision-making.
