An AI solution is speeding up insurance claims processing
The platform created by Embrace Pet Insurance is 75% faster than the company’s standard method
Photo: V&P Photo Studio/Adobe Stock
Apollo, a platform powered by artificial intelligence (AI), is now automating routine claim processes such as document handling, data extraction and claim adjudicationfor Embrace Pet Insurance. The first-to-market platform, which was built and designed completely in-house, is more than 75% faster than Embrace’s standard claims processing method, according to the company.
“Apollo will enable our team to be more productive and efficient, while maximizing the speed at which claims are reimbursed. AI is not replacing the expertise of our claims adjusters, but rather allows them to focus on more complex claims and projects where their experience is best utilized,” said Brian Macias, president of Embrace Pet Insurance, in an organizational release. Using the proprietary Lightning Claims protocol to predetermine covered claims, Apollo has already processed nearly 250,000 claims since June 2022. These claims represent more than 50% of all claims processed during that time period.
Since the tool’s introduction, Embrace has leveraged Apollo to improve customer service and provide even more efficient reimbursements while also freeing up critical time for Embrace claims adjusters to focus on high-value activities like providing personalized client communications, strengthening customer relationships and addressing complex claims. “Embrace’s Apollo processing system ensures we provide an exceptional customer experience through a unique combination of AI technology, human intelligence and top-tier customer support,” said Macias, in the release.
Although the platform is currently being used primarily by the claims team, Embrace is highly invested in expanding the use of AI across all aspects of the business where there is the opportunity for processes to be improved and benefit from automation. “This platform is a groundbreaking development within the pet insurance industry, and our team is paving the way of the future with this modernized approach,” added Macias.
Reference
Embrace Pet Insurance launches modern approach to claims processing with proprietary ai solution. News release. Embrace Pet Insurance. March 30, 2023. [email]
