Sprout.ai launches 'fraud-proof' claim settlement solution

'Claims are being lost during processing'

Adam Saville
clock
Sprout.ai launches 'fraud-proof' claim settlement solution

With Covid-19 driving 55% increase in average policyholder contact time, health insurers are at risk of missing fraudulent claims

Insurtech firm Sprout.ai has launched a claim settlement solution for health insurers globally using its Contextual AI technology. The service puts in safety measures that check health insurance claims, up to 20% of which are for low value treatments. With some insurers choosing to automate the authorisation of claims with low value, they are in danger of missing claims that may be fraudulent, said Sprout.ai. Current processes rely on complex classification systems, such as ICD10, Snomed and...

To continue reading this article...

Join Cover

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on uncategorised

COVER parent company acquired by Arc

COVER parent company acquired by Arc

Backed by Eagle Tree Capital

COVER
clock 06 April 2022 • 1 min read
National insurance hike to fund social care faces accusations of 'intergenerational raid'

National insurance hike to fund social care faces accusations of 'intergenerational raid'

NICs could be raised 1 percentage point

Hannah Godfrey
clock 20 July 2021 • 2 min read
Unions urge govt to reset approach to LGBT rights

Unions urge govt to reset approach to LGBT rights

Government recently scrapped LGBT Action Plan and disbanded advisory panel

Jon Yarker
clock 19 July 2021 • 1 min read