Insurtech provider Gradient AI has partnered with Signal Mutual Indemnity Association.
Signal Mutual is the largest self-insured group provider of longshore benefits in the country. With approximately 5,000 new claims each year, the association is constantly looking for strategies to improve its claims management efficiency and effectiveness. Recently, Signal Mutual turned to Gradient AI to use artificial intelligence to optimize its workers’ compensation claims workflow and triage claims more efficiently.
Gradient AI will allow Signal Mutual to triage claims rapidly for more effective resolution, the insurtech said. Simpler claims are sent to less experienced staff and processed quickly, while claims predicted to become complex are assigned to more experienced adjusters. This strategy frees up internal resources to focus on claims that need more attention.
“While we have only recently started integrating Gradient AI into our claims process, it’s already making a positive impact on the way we work,” said Ann Latimer, senior vice president and head of claims operations at Signal Mutual. “At Signal, we are committed to expediting injured workers’ return to work, minimizing claims costs, and enhancing our members’ claims experience. We look forward to continuing to leverage Gradient AI’s capabilities to resolve claims more quickly and reduce our overall cost of claims.”
Gradient AI has also collaborated with Signal Mutual to create an adjuster’s scorecard that utilizes analytics to ensure that members’ claims are managed efficiently, the insurtech said.
“We are excited to support Signal Mutual’s goal of continuously improving its claims management operations and outcomes,” said Stan Smith, founder and CEO of Gradient AI. “Our suite of AI-powered solutions and the scorecards we’ve created together are just the beginning. We look forward to continuing our partnership with the Signal team to improve the claims experience for its members’ organizations and employees.”
Earlier this month, Gradient AI announced that managing general underwriter Western Skies had chosen its SAIL product to provide stop-loss access to smaller, self-funded groups. In April, the company announced that health insurance captive Roundstone Insurance had begun to utilize the SAIL product.
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