DocLens.AI Blog

  • Identify Factors Contributing to Social Inflation

    Michael Bruton | Chief Product Officer, DocLens.ai Set a Baseline For Settlements & Risk Claim portfolio managers searching for answers to the Social Inflation challenge should start by developing a repeatable methodology for measuring the impact of Social Inflation on a specific claim portfolio. By accounting for the other factors, such as change in the claim…

  • Leverage AI to Reduce Social Inflation

    Leverage AI to Reduce Social Inflation

    Experienced claim portfolio managers can identify the micro level factors and the strategy for addressing the challenge. Advances in technology can improve execution of the strategy driving improved outcomes.

  • Why Nuclear Verdicts Matter

    Why Nuclear Verdicts Matter

    Regardless of your view on whether these verdicts are good or bad there is no dispute that they have an impact far beyond the specific parties involved in the case. These large verdicts echo through the entire economy. 

  • Know Your Contracts

    Know Your Contracts

    Using third parties can provide significant flexibility and efficiency but when an organization relies on third parties, the organization is exposed to risk and potential liability based upon the actions of those third parties.  

  • What Unknown Risks Lurk In Your Contracts

    What Unknown Risks Lurk In Your Contracts

    If you do not know what risks you have accepted or shifted through contracts, you may only learn about exposure when it is too late. What can you do to proactively manage contract risk?

  • Mitigating Knowledge Transfer Risk

    Mitigating Knowledge Transfer Risk

    It is well documented that a significant portion of the insurance industry workforce is rapidly approaching retirement. The industry faces a dual risk of not only finding sufficient interested candidates to fill jobs that will become available on retirement but also with replacing the knowledge and experience that departs when long term employees retire. 

  • Automating Extraction and Conversion of Unstructured Data 

    Automating Extraction and Conversion of Unstructured Data 

    The automated extraction and conversion of unstructured data found in primary source documents, reports, records and other medium to structured data that can be used for analysis is the most significant step in the evolution of data analytics.

  • Social Inflation & ChatGPT

    Social Inflation & ChatGPT

    Social Inflation is a key issue for the Insurance Industry.  We asked ChatGPT to define Social Inflation, to identify the causes of Social Inflation and to address how to reduce Social Inflation.  And the answers are:

  • Artificial Intelligence Using Large Language Models Can Accurately Evaluate Risk in Liability Claims

    Artificial Intelligence Using Large Language Models Can Accurately Evaluate Risk in Liability Claims

    Rapidly the Insurance Industry has moved beyond discussing whether the Insurance Industry should use AI and LLMs to identify the best use cases for these new techniques and implementing solutions.

  • Reduce Risk in Your Contracts with Artificial Intelligence

    Michael Bruton | Chief Product Officer, DocLens.ai All business opportunities involve some degree of risk. It is not surprising that the documents memorializing a business relationship include provisions that either impose obligations (create risk) or provide benefits (mitigate risk). Most often, these Legal risks remain latent until an adverse event occurs. At that point, the…

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