Will offer artificial intelligence predictive solution at first notice of loss and beyond
PORTLAND, Ore., October 18, 2022 – NetClaim®, a leading software and services solution for insurance claims intake, has announced today strategic partnerships with two advanced technology providers: Mobotory Technologies and Klear.ai. In collaboration with these two firms, NetClaim will enhance its industry-leading First Notice collection methods with artificial intelligence (AI) technology to deliver enhanced claim predictions at the first notice of loss (FNOL) intake. The new product offers the industry’s earliest level of decision support, resulting in better predictive abilities for providers and improved outcomes for NetClaim customers.
By combining Klear.ai and Mobotory AI trained models with NetClaim’s powerful industry data, the partnership offers customers claims intelligence tailored to their business. Specifically, NetClaim will offer granular, real-time insights based on a client’s historical claim data. This gives clients a complete data view and the ability to make smarter business decisions for FNOL tickets. As a result, insurance professionals can speed time to resolution and increase accuracy of recommended outcomes.
“By identifying complex and costly claims at the point of intake, as well as assisting with accurate reserve setting, fraud potential, likelihood of litigation, and more, the new NetClaim service provides immediate value,” said Tierney Toussaint, Vice President, NetClaim. The partnerships aim to deliver incredibly accurate solutions to NetClaim customers including carriers, risk pools, TPAs, and PEOs. “There is burgeoning demand for AI-enhanced recommendations from our customers. We are thrilled to partner with Mobotory and Klear.ai whose AI models will blend exceedingly well with our vast FNOL expertise and data sets for customer success.”
NetClaim handles more than one million FNOL events each year, creating the perfect ecosystem of data for these predictive models. NetClaim’s leading FNOL technology – including its high quality, 99.9 percent accurate system that speeds claims dissemination from hours to minutes – will be combined with solutions from Klear.ai and Mobotory to provide customers insights faster than ever before.
“Bringing greater predictive intelligence to the claims process is critical for business agility,” said Brijesh Kumar, CEO, 4aiSoft, providers of Klear.ai. “We are excited to help providers obtain better claims outcomes, faster and with greater intelligence by bringing together our leading AI innovation with NetClaim’s deep claims intake experience to help insurers more successfully navigate today’s market conditions.”
Jon Stevenson, CEO of Mobotory said, “We are thrilled to bring clients visibility to the risk of actual costs at first notice of loss, instead of waiting for problematic issues to linger. By teaming Mobotory’s deep AI technology with the NetClaim service and its depth of data, the industry will have tailored early decision support, resulting in more effective claims outcomes and more efficient use of client resources.”
NetClaim by NAVEX provides agile, extremely accurate, fully configurable and easy-to-use claims reporting and dissemination. As the largest provider of outsourced first notice of loss (FNOL) in North America, NetClaim’s team of risk and insurance industry experts deliver the most advanced intake system in the industry, capable of enforcing client-specific rules while focusing on customer interaction. NetClaim’s integrity checks provide automated, real-time quality assurance, while a highly sophisticated dissemination and escalation engine supports complex logic and routing in multiple formats to provide customers with a leading edge on their claims intake process that pulls their capacity for innovation forward. For more information, visit www.netclaim.com.
Klear.ai is a premier Claims Administration and Risk Management software platform and the first to use native artificial intelligence to deliver next-generation solutions that address today’s insurance challenges and tomorrow’s opportunities. The Klear.ai suite of products deliver advanced analytics, comprehensive auditing, integrated automation, and modern, end-to-end claims administration. Klear.ai solutions are currently helping to reduce claims processing times and lowering claims’ cost and risk for leading self-insured organizations, TPA’s and Risk Pools including the County of Los Angeles which has the largest local economy in the United States. For more information about Klear.ai please visit, https://www.klearai.com.
About Mobotory Technologies
Mobotory, is the first ever Insuretech AI company to predict the cost involved with claims and underwriting in the commercial space. It delivers rapid actionable knowledge and deep insight into Workers’ Comp and General Liability risk, reducing losses, identifying & mitigating cost factors, and supporting safety improvements. Mobotory impacts claim outcomes of blue-chip companies, risk pools, TPA’s and PEO such as Arthur J Gallagher, Allianz and McDonald’s helping to make and save millions of dollars in the process. For more information on Mobotory’s products and services go to www.mobotory.com.