Four for the week – vol 17

Welcome to our seventeenth edition of Four For the Week (44TW)! To look through past editions, feel free to view our blog. This week we look at why “thinking outside the box” may be the wrong approach, some fun and new techniques to build client relationships, and the biases of todays AI models. We close it out with an article on the shifting sands of insurance today. Enjoy!

1. Why “thinking outside the box” is wrong

Strategy & Innovation

Claimatic Team

We have all heard the expression “think outside the box” to find innovative solutions, but what if the box did not exist in the first place? We natrually put our serves in boxes because it is what we are taught growing up For example, as a kid you are told to color within the lines. Because of that we constantly have a artificial box around our ideas limiting us daily. If we all set our boxes on fire we will force our selves to think more strategically and creatively

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2. Building Client Relations during Covid-19

Strategy & Innovation

Claimatic Team

During these difficult times, client relations can be more important than ever before. This is certainly a time when companies need to have empathy and be there to support their customers. This means going above and beyond their usual customer support, and giving clients multiple options tailored to their individual needs. Some examples are: having several ways for customers to complete their transactions, and companies improving their virtual support and customer communication capabilities.

3. AI models being biased

Technology & Preparedness

Claimatic Team

Building an AI model is obviously an extremely complex process. We often think of AI as a computer system that is perfect and unbiased, but in reality AI models are designed and built by humans, so there are often levels of error. A computer is typically not taught inclusivity for example, so for some, it comes as no shock that research has found many AI models may have inherent bias based on how they are built.

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4. Virtual Delivery: How Insurance is Changing with COVID-19

Technology & Preparedness

Claimatic Team

From changes in retail to travel to commerce, we’re all a part of the new work from home life. Most industries have had to adapt COVID-19 and the insurance segment is no different. Very quickly, our industry has had to shift from our usual face to face meetings, to moving more of our business to a digital platform. This applies internally, from no longer meeting in the corporate office, as well as adapting field work to be as digital as possible.

Claimatic is the first dedicated decisioning solution for insurance claims routing and assignment for the enterprise. We believe we stand alone in offering the platform, and administrative tools to quickly configure, deploy and manage the routing and assignment of hundreds to hundreds of thousands of claims at once, while supporting the unique processes and rules for your business.

Customers choose us as a partner because we offer the only open, low TCO solution to meet their needs, regardless of Insurance Claims Management software platforms. We work across platforms and enterprise systems, information sources and software languages in use within the enterprise and across our customers’ partner networks. Our technology supports hundreds of factors involved in claim decisioning, thousands of entities involved in claims resolution, and millions of claims cases, all within a single deployment.

Customers who partner with Claimatic acquire significant advantages from working with a company that has focused exclusively on this set of challenges since day one – the product they need, and the results they want— the right resource, assigned to the right claim, at the right time.

Wes Bright, Product Leader