` AI solutions for Insurance | AI in Insurance | Soothsayer Analytics

Insurers are awash with data from underwriters, customers, claims, and beyond. Many are dealing with antiquated systems and disconnected data sets. Soothsayer can help bring this data together and utilize Machine Learning to answer lingering questions, predict the future, and optimize everything from targeting customers to streamlining underwriting to ensuring that claims are valid & processed in the shortest amount of time.

Soothsayer has helped dozens of Fortune 1000 & Midsize companies capture ROI via custom A.I. solutions

  • Duplicate & Fraudulent Claims Detection
  • Group & Member Claims Forecasting for Quoting Policy Renewals
  • Computer Vision & NLP Fraud Detection
  • Predicting Claims Cost, Duration, and Litigation
  • Predicted Lost Customer Churn
  • Underwriting Data Collection Automation
  • Chatbot for Call Center Service Reps
  • Agency, Underwriter, & Policyholder Segmentation
  • Proactive Recommendation Engine
  • Predicted Patient Adherence to Prescriptions

Key uses of Artificial Intelligence in insurance

Presence of counsel in auto claims

Predict not only the payout amount, but also the likelihood of litigation in an auto claim in case of property damage or bodily harm

Agency performance prediction

Advanced machine learning algorithms can predict how much new business a newly appointed agency can bring in for commercial lines and personal lines in a fiscal year

HOI claim payout in case of catastrophes

Predict the payout for HOI claims in the aftermath of catastrophes such as fire, hail, flood etc.

Pricing insurance premiums

Advanced AI algorithms can be used to determine premiums for health, travel, auto and property by assessing assets and customer profiles

Fraudulent claim detection

Applying natural language processing techniques to analyze text from the claimant’s narrative

Predicting workers compensation claim payout

Artificial intelligence can predict the outcome of a case by studying similar past claims