Manual document processing slowing down life claims? Get up to speed with Sprout.ai
The increasing complexity of life insurance products is leading to more complicated claims processes. Fraudulent activities are becoming more sophisticated, and claims handlers need to be equipped with the right tools to detect and investigate suspicious claims.
At the same time, insurance customers are increasingly expecting faster, more transparent, and more convenient claim processes. Dealing with claimants who may be going through a difficult time (such as the loss of a loved one) requires empathy and time.
Manual document processing takes up huge amounts of claim handlers’ time that could be used to support customers.
Multiple medical reports and records from out-of-network providers
Handling medical reports, invoices, and patient records, especially from out-of-network healthcare providers, can be time-consuming. This is because these documents may not follow a standard format, making it harder to extract and verify the necessary information. Delays often occur in collating and analyzing these diverse documents.
Sprout.ai can streamline this process by using natural language processing (NLP) and machine learning to efficiently extract relevant information from various formats and sources, reducing the time spent on manual sorting and interpretation.
Lack of initial qualification of health claim evidence
When health claim evidence is not initially qualified, it can lead to the need for additional information, prolonging the claims process. This might happen if the submitted evidence is incomplete, unclear, or doesn’t meet the policy criteria.
Sprout.ai can quickly identify claims that meet the basic criteria and flag those that require additional information. This can help prioritize work and reduce the time spent on claims that are not immediately actionable.
Manual reading and review of documents
Manual processing of documents is inherently slow and prone to human error. This includes reading and interpreting medical records, invoices, and other relevant documents, which can be a significant bottleneck in the claims process.
Sprout.ai automates much of this process by using AI to read and understand documents reducing the reliance on manual effort. This not only speeds up the process but also minimises errors associated with manual handling.
Manual application of rules checking and validation
Manually applying rules for checking and validating claims is another area that can slow down the claims process. It requires significant time and expertise. There’s a risk of inconsistency in how these rules are applied.
Sprout.ai applies these rules consistently and automatically, ensuring that every claim is assessed according to the same standards. This not only speeds up the process but also ensures fairness and consistency in claim handling.
Learning and adapting to some new systems can be time-consuming and requires continuous training. That’s not the case with Sprout.ai. Download our mini guide to learn more