Rogue Magazine Assisted Advancing the Insurance Industry With Artificial Intelligence

Advancing the Insurance Industry With Artificial Intelligence

Errors in the insurance verification process are far too common, costing the industry billions of dollars annually. There currently is no truly efficient and accurate method for this process, setting the industry back and begging for new developments in technology.

The main reason for these setbacks are human intervention, and in turn, human error. Conventional insurance processing requires human expertise, meaning that there needs to be extensive experience in the field. Even when workers of this nature are hired, traditional insurance capture is prone to human error. In fact, the average error rate among all health insurance information in the United States is over 19%. On top of these issues, most current solutions cannot identify insurance information that is not printed on a card. These limitations come together to enforce an inefficient way of operating in the industry.

Luckily, there are new developments on an AI-powered alternative to insurance processing. What traditional methods could do in minutes, artificial intelligence can do in seconds, and with much more accuracy. The benefits speak for themselves, as humans simply do not compare to the capabilities of AI technology. The movement has already started towards technological advancement in insurance capture, and the future is looking bright.

The Smarter Way to Capture, Verify, and Process Insurance with an AI-Powered Solution
Source: OrbitHC

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