Aon launches product designed to boost ‘claims adjustor productivity by 25%’
Aon has launched a tool to read claims notes on open files, saying it can boost claims adjustor productivity by 25 percent.
Aon’s ClaimsMonitor.X (CMX) platform uses artificial intelligence (AI) to read claims notes on open files, enabling insurers in the US and Canada to review their progression. The company said this leads to increased efficiency and profitability while enhancing the customer service experience for policyholders.
In collaboration with CLARA analytics, a provider of AI technology in the insurance industry, ClaimsMonitor.X leverages natural language processing (NLP) to constantly read claims notes to identify if adjusters are following best practices, and if necessary, send alerts to the supervisor. Aon’s time studies have shown that supervisors spend over 40 percent of their diary time reviewing open files to determine if the claim is being handled in compliance with the insurer’s internal best practice guidelines.
Aon said that having the ability to focus on only those claims that require intervention will increase the productivity of a claims supervisor’s time – enabling them to focus on customer service, resolution strategies, complex claims, coaching and performance management.
Dave Ertmer, senior vice president of claims for US insurer West Bend, who implemented CMX for his auto line of business, said: “CMX allows our supervisors to be alerted when critical claims actions are not being followed allowing for supervisors to take corrective action to avoid leakage and improve customer service of claims handling on open claims."
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