The partnership will allow the insurance company to quickly sort claims for a more effective solution.
Written by Ryan Smith
The Insurtech Gradient AI provider has partnered with the Signal Mutual Indemnity Association.
Signal Mutual is the largest self-insured group provider of longshore benefits in the country. With approximately 5,000 new claims each year, the Association is constantly looking for strategies to improve the efficiency and effectiveness of claims management. Recently, Signal Mutual turned to Gradient AI to use artificial intelligence to improve workers compensation claims workflows and sort claims more efficiently.
Insurtech said the graded AI will allow Signal Mutual to sort claims quickly for a more efficient resolution. Simpler claims are sent to less experienced staff and processed quickly, while claims expected to become complex are assigned to more experienced adjusters. This strategy frees up internal resources to focus on claims that need more attention.
“Although we have only recently begun integrating Gradient AI into our claims process, it is already positively impacting the way we operate,” said Ann Latimer, Senior Vice President and Head of Claims Operations at Signal Mutual. “At Signal, we are committed to accelerating injured workers’ return to work, reducing claims costs, and enhancing our members’ claims experience. We look forward to continuing to leverage Gradient AI’s capabilities to resolve claims more quickly and reduce the overall cost of claims.”
Gradient AI has also collaborated with Signal Mutual to create a converter scorecard that uses analytics to ensure member claims are managed efficiently.
“We are excited to support Signal Mutual’s goal of continuously improving claims management processes and results,” said Stan Smith, Founder and CEO of Gradient AI. “Our suite of AI-powered solutions and scorecards we created together is only the beginning. We look forward to continuing our partnership with the Signal team to improve the claims experience for member organizations and employees.”
Earlier this month, Gradient AI announced that its SAIL product had been selected by general insurance company Western Skies to provide stop-loss access to smaller, self-financing groups. In April, the company announced that captive health insurance company Roundstone Insurance had begun using the SAIL product.
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