EIS, a leading provider of Software as a Service (SaaS) platforms for the insurance industry, is set to introduce ClaimSmart™, an intelligent cloud solution designed to revolutionise claims management.
The launch of ClaimSmart aims to address inefficiencies in claims management processes, reduce costs, and enhance the overall customer experience in the insurance sector.
The product is an AI-powered cloud solution that utilises Artificial Intelligence and Machine Learning to drive down the cost of claims while improving processing efficiency and fraud detection. It offers a versatile digital front-end portal for insurers, prioritising self-service and enhancing the overall customer experience.
ClaimSmart™ consists of two core products: ClaimPulse™ and ClaimGuard™.
ClaimPulse™ offers digital first notice of loss (Digital FNOL), automated claims processing, and an integrated front-end digital portal. ClaimGuard™ is an AI and ML solution specialised in fraud detection and risk scoring, enhancing the security and integrity of the claims process.
ClaimSmart™ is core-agnostic, allowing seamless integration with most policy and claims management systems. When combined with EIS’s existing claims system, ClaimCore, ClaimSmart™ offers a comprehensive end-to-end claim management solution, accelerating claim resolution and delivering a seamless experience for insurers and policyholders.
Alec Miloslavsky, EIS CEO, said, “Claims platforms are in desperate need of transformation. They’re bogged down by manual tasks and ineffective processes that not only drive-up costs but also degrade customer experiences. In response, we’ve developed ClaimSmart to address these challenges head-on.”
“With ClaimSmart, we’re embracing the transformative potential of data science to revolutionise insurance claims management. Our commitment to data fluidity, intelligence, and extensibility is crucial as we assist insurers in building their future ecosystems. This vision has been recognised by industry experts, such as Celent, who have named our Claims Platform a 2024 Tech Standout. As we continue to evolve our platform and collaborate with various insurtechs, our goal remains to deliver the best possible claims management outcomes, setting new standards in the industry,” continued Miloslavsky.
Atsushi Wada, Claim Dept. Team Manager, Tokio Marine, added, “We’re proud to be one of ClaimSmart’s first users. It’s helping to revolutionise our claims management process for both customers and employees. Inefficient and costly systems and processes have been transformed, delivering faster resolutions, increased customer satisfaction, and large-scale operational savings.”
Keep up with all the latest FinTech news here
Copyright © 2024 FinTech Global
