Generative AI and Claims Processing: Making Sense of the Data

In today’s rapidly evolving business landscape, Artificial Intelligence (AI) and Machine Learning (ML) are reshaping how insurers engage with clients and innovate at unprecedented speeds. The driving force behind this transformation is the surge in data availability, collection, and processing capabilities. As insurers harness a burgeoning ecosystem of software tools, they are empowered to extract insights and drive impactful actions from this wealth of information.

While first-party data––which refers to data available to a company through internal processes or collected from customers on a company’s websites, apps, and other owned properties –– remains the best and most reliable form of customer data in an organization’s drive to perform deep, real-time personalization across touchpoints, specific use cases like market forecasting, predictive analytics, and inferential recommendations rely on data that can tell a deeper story.

Unsurprisingly, generative AI is revolutionizing natural language processing and human-computer interactions, enabling applications like chatbots, content generation, and creative writing that also require data that extends past the limitations of first-party data. Data that provides accuracy and consistency is paramount in any AI and ML modeling use case. Still, data that enhances context becomes critical to break through the limits of first-party data.

Watch on-demand as we explore data’s pivotal role in fueling Generative AI and ML advancements. This webinar will examine the dynamic interplay between first-party data and the emerging need for enhanced data sources that transcend conventional boundaries to maximize claims processing and enhance user experience.