We’re excited to announce that Sprout.ai is a finalist in I Love Claims’ inaugural ClaimsTech – The Pitch. The competition was created in partnership with Insurtech UK to showcase the latest technologies for insurance claims.
We’re looking forward to discussing how our technology solves claims challenges at the event in September, alongside seven other innovative companies.
Sprout.ai’s solution
To process one insurance claim, claim handlers usually collect and analyse over 25 pages of complex documents – a time-consuming and laborious task.
We can extract and enhance relevant claims data at a 98% accuracy rate, cross check this with policies and provide a philosophy-driven adjudication recommendation. Claim can be concluded in near real-time, so claims handlers have more time to spend with customers.
One major insurer has seen a 70% unit cost reduction and a 30% capacity increase with our technology.
Commenting on the competition, Mark Hadaway, Managing Director at I Love Claims said: “We are very excited by this new venture. Working with insurtech start-up trade association – Insurtech UK, this initiative aligns with our ‘better tomorrow’ ethos by bringing claims technology start-ups and key influencers together to provide a springboard from which they have the potential to make a significant positive impact across the insurance claims landscape.”
Join us at the annual ClaimsTech LIVE event later that day.
With its unique ‘hands on’ and experiential approach, the event will once again provide fresh insights and access to a broad audience of key decision makers and influencers within insurers, MGAs, outsource solution providers and supply chains.
