Category: Uncategorized
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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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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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Use Artificial Intelligence to Proactively Manage Risks in Your Contracts
Contracts define rights, obligations, and remedies. Thus, every contract contains multiple provisions that create or mitigate risk. Frequently, when an adverse event occurs or a potential adverse event is recognized, you look to the contract to determine the impact of that event. This reactive approach to contract risk depends on good fortune for success and…
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Social Inflation – Mitigate Legal Risks and Cost in Liability Claims
By Michael Bruton | Chief Product Officer, DocLens.ai and Arnab Dey | CEO, DocLens.ai October 2022 If your business has exposure to the risk of third-party liability claims, you should be proactively implementing solutions to mitigate rapidly increasing costs. Social Inflation is the increase in the cost of resolving claims attributed to changes in the way…
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Another “Nuclear Verdict” What Can We Learn From This St. Louis Verdict?
We know that Nuclear Verdicts impact the parties directly involved in the case but they also have a ripple effect through society.