DocLens.AI Blog
-
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
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…
-
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…
-
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…
-
DocLens Technology Can Immediately Improve Claim Outcomes
Rising loss costs, particularly in litigated insurance claims, which is frequently called Social Inflation, is a significant risk for property and casualty insurers. Mitigation of that risk must focus on improving claim outcomes and successful insurance claim teams are constantly asking “how can we get better outcomes?”. Investments in training and talent, streamlining process and…
-
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.
Reach Out To Us!