Artificial intelligence is no longer the stuff of science fiction; it is already being used by claims and litigation professionals to speed up and optimize processes. How are your peers and colleagues using AI? Last week, we asked the CLM community: How has your company/firm implemented AI, and what have some of the benefits been?
Here are some responses we received:
“From a risk management perspective, we use Clive for our Five Sigma System and also use Copilot. All are working well, but we still need to verify the data to ensure it is correct.”
Mark Habersack, executive director of risk management, Resorts World Las Vegas
“Summarizing claim files, assistance with writing internal reports/approval documents, summarizing legal reports: time savings and efficiency improvements. Soon to be using for presentation development. I'd [love] to have an accurate medical billing review system!”
Marc Stover, claims adjuster, McNeil & Company
“We provide predictive modeling for claims. We have many success stories with improved exposure recognition leading to early claim resolution, more accurate reserving, lower LAE, and lower indemnity payment on BI claims.”
Paul Berne, executive vice president and chief claims officer, Quaker Analytics
“We are using AI for underwriting, loss control and are beginning to utilize it in the claims department for records review.”
Debbie Hembree, claims specialist, MGT Insurance
“I am using AI to prompt engineer responses related to building construction practices, material type identification and research tools related to construction materials.”
Nathan Wilson, building consultant, Sedgwick