Verisk Introduces Generative AI Tool to Expedite Insurance Claim Processing
Verisk Introduces Generative AI Tool to Expedite Insurance Claim Processing
Verisk has launched its  automated generative artificial intelligence (generative AI) record summary feature within Discovery Navigator.

The platform is recognised for its efficacy in medical record review systems tailored for property and casualty claims professionals.

Discovery Navigator’s auto-summary feature accelerates access to essential medical data for property and casualty insurance professionals, allowing them to focus on higher-value tasks, boosting productivity. This efficiency may lead to better resource allocation, reducing claim leakage and ensuring resources are used effectively. Verisk prioritises ethical and responsible use of generative AI, embedding privacy, security controls, human oversight, and transparency into its solutions for enhanced operational efficiency and client profitability.

Discovery Navigator has demonstrated remarkable efficiency, boasting speeds up to 90% faster than manual record reviews and accuracy rates of up to 95%. The introduction of the generative AI auto-summary feature aims to further streamline the claims settlement process, enabling professionals to reach resolutions with precision and efficiency.

“In an era of a shrinking skilled workforce and rising costs in claims handling, generative AI isn’t a luxury, it’s a lifeline,” said Maroun Mourad, president, Verisk Claims Solutions.

He added: “Discovery Navigator’s new auto-summary will empower our customers to do more with less, unlocking new efficiencies that fuel continued growth.”

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