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

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 MedDRA which include discrete codes for each medic and their varying brand names, and this can...