DocLens.AI Blog
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How AI is Augmenting the Craft: The Ethical Renaissance of Writing
At DocLens.ai, we are obsessed with enabling our customers who are insurance claim experts with effective case summary writing. For example, when an accident happens and reports get submitted to the claim departments, our customers need to quickly summarize how the accident happened, who wereinvolved and what injuries were sustained. Summary writing in expert situations…
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The Algorithmic Advantage: AI in Regulated Industries
The world of artificial intelligence (AI) is no longer confined to science fiction. It’s rapidly coming to Insurance and all insurance companies are actively talking about this topic. Insurance being a regulated industry, can benefit from advances and trends in other heavily regulated industries —banking, healthcare, and finance. According to McKinsey, 40% of C-suite executives…
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Data Defense Dynamics
Navigating Privacy Challenges in the AI Era !! The surge in cloud-hosted AI software has ignited crucial conversations about data privacy. In response, a detailed framework paves the way out to help users navigate varying levels of data protection. Under the framework, privacy can be categorized into four tiers: Within each level, intricacies abound. For…
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Navigating the New Frontier: Recent Trends in Regulating AI
As Artificial Intelligence (AI) continues its rapid evolution, policymakers and industry leaders are grappling with the imperative to regulate its use responsibly. In recent years, AI has transformed industries, offering unprecedented opportunities for efficiency, productivity, and innovation. However, concerns about its potential misuse, bias, and impact on privacy and employment have prompted calls for robust…
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Forward Focus
Surpassing all expectations, the Property & Casualty (P&C) Insurance Market has soared beyond imagination. According to a Global Market Insights report, it surpassed the monumental milestone of USD 1.8 trillion in 2023. With projections forecasting an impressive growth trajectory of over 5.5% between 2024 and 2032, the sheer magnitude of these figures compels us to…
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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…
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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.
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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.
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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.
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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?
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