Supports Automobile, Property and Workers’ Compensation Claims
INDIANAPOLIS (January 16, 2019) — Equian, a leader in innovative P&C payment integrity solutions announced today that its Data Analytics Division created the first NLP based AI platform called EquianAI built exclusively for the P&C subrogation market. After piloting and testing the platform, it has proven to:
- eliminate leakage associated with subrogation identification,
- reduce false positives up to 36%,
- enable productivity gains up to 20%,
- and improve cycle time over 30%.
EquianAI’s greatest impact is improving operational performance and recovery cycle times, and it easily integrates into existing workflows with minimal technology resources required. Equian’s Subject Matter Experts worked alongside the Analytics Division to develop the model. The Analytics Division utilized Equian’s data repository of P&C subrogation data to formulate a unique set of algorithms to predict outcomes and improve the existing process.
Check out the video below explaining the solution functionality:
Equian is a leading end-to-end payment integrity organization. The company manages over $500 billion in claims data annually on its innovative platform designed to assist clients by avoiding, identifying, pricing, analyzing clinical codes, and ultimately recovering inaccurate transactions in the complex environments of healthcare, workers’ compensation, and property & casualty markets. Equian acts on data to pay the right party, the right amount, at the right time delivering over $2.5 billion annually in actionable savings throughout the payment spectrum.
Mike Morrison, CRO