The EXL Insurance LLM offers significant improvements over generic AI models, providing greater accuracy and efficiency for tasks like claims reconciliation and data extraction.
By leveraging NVIDIA’s AI Enterprise platform, EXL has created a model that is tailored to the unique needs of the insurance sector. This specialization ensures better understanding of industry-specific terminology and processes, leading to more reliable and cost-effective outcomes.
Key benefits of the EXL Insurance LLM include:
- Improved accuracy: Outperforms generic models on insurance-related tasks.
- Reduced costs: Offers cost savings compared to generic AI models.
- Enhanced efficiency: Streamlines processes like claims adjudication and data analysis.
- Compliance: Ensures adherence to insurance industry regulations.
EXL’s new LLM is a significant step forward in harnessing the power of AI to improve operations and outcomes in the insurance industry.
“With 25 years of expertise in processing medical records data for bodily injury, workers’ compensation, and general liability claims, EXL has developed curated data sets with domain-specific tagging, labeling, and question and answer pair creation for claims adjudication to fine-tune our models,” said Anand “Andy” Logani, EXL’s executive vice president and chief digital officer.
He added: “The EXL Insurance LLM offers 30% greater accuracy and 30% lower costs than generic LLMs while ensuring full regulatory compliance.”
