09 Mar Aspire General Insurance Company Selects Infinilytics to Optimize Claims
Aspire General Insurance Company Selects Infinilytics to Optimize Claims
Next-gen AI platform will lower costs and improve the customer experience with insurance claims.
SAN MATEO, CALIFORNIA and RANCHO CUCAMONGA, CALIFORNIA — March 12, 2019 –Infinilytics,an Enterprise artificial intelligence (AI) and analytics provider delivering solutions for insurance organizations, is pleased to announce Aspire General Insurance Company (Aspire) has selected the company’sAI-based, smartC™ platform, and its Charlee Suite (Charlee) of claims optimization tools,to streamlinethe claims process, reduce costs, and create an improved customer experience.
“We are really excited to be using this new technology,” said Brad Hinkle, vice president ofclaims at Aspire.“It is like having a ‘super adjuster’ watching over our entire claims inventory. Data, notes, and documents are all ingested and analyzed by Charlee without the need to input data into specific data fields. This increases the efficiency and capabilities of our underlying claims management system. Charlee’s AI then provides us with meaningful fraud recognition, quality control, pattern recognition, and analytics. Charlee compare claims data to both external resources and internal measures to provide an unprecedented level of oversight, resulting in an improved loss ratio.”
Infinilytics’ smartC platform is cloud-based and enables automated data gathering, processing, and natural language comprehension through Charlee, a set of sophisticated claims optimization tools, including Charlee-O, an AI-enabled chatbot providing recommendations and suggested actions; Charlee-X, an alert system which identifies red flags and questionable patterns by leveraging cognitive analysis; and Charlee-L, apre-litigation prediction tool which utilizes emotion and sentiment analysis. Implementation of any combination of Charlee tools takes less than three months from pilot to production.
“We are honored and very excited to be working with Aspire,” said Sri Ramaswamy, CEO and founder of Infinilytics.“Charlee utilizes machine learning (ML), deep learning (DL), and natural language processing (NLP)to accuratelypredict if a claim will proceed into litigation and provides recommendations starting from the first notice of loss (FNOL)throughthe claim investigation to the final settlement. Charlee will effectively optimize any claim for the Aspire team going forward.”
About Aspire General Insurance Company
Aspire is a California-based auto insurance company with $40M in written premium. Aspire is rated B+ by AM Best.
Infinilytics is a software company headquartered in Silicon Valley of the San Francisco Bay Area. Utilizing artificial intelligence and predictive analytics, Infinilytics solves the insurance industry’s three main problems; one, reduced skilled workforce; two, rising claim costs; three, legal exposure and expenses.