Google Cloud has signed a partnership deal with health insurance firm Prudential to improve the accuracy and efficiency of medical insurance claims using Google’s MedLM.
According to a statement, Prudential will use the family of language models to simplify and summarise claim-related documents, including medical reports and invoices, for quicker approvals and pay-outs.
MedLM uses text-based models developed by Google Research, such as Med-PaLM 2.
The development of these models has been informed by specific customer needs, such as answering medical questions and drafting summaries, according to Prudential.
MedLM is used by healthcare organisations to build solutions for doctors, hospitals and other medical providers, to deliver better experiences for healthcare workers and patients.
Prudential provides life and health insurance and asset management in Asia and Africa.
Starting in Singapore and Malaysia, Prudential will use MedLM to analyse documents submitted alongside its health insurance claims, such as diagnostic reports, prescriptions and invoices.
A few months later, the initiative will expand across Africa, including SA, to ensure transparent health insurance offerings in the region, it says.
“Prudential’s early tests with MedLM demonstrate that generative artificial intelligence can play a major role in efficiently tackling the growing volume of health insurance claims, resulting in more frictionless processing and a faster turnaround time for customers,” says Arjan Toor, CEO of health at Prudential.
The announcement follows several proof-of-concept tests by Prudential, which show its use of MedLM doubled the automation rate of claim reviews and assessments, in addition to improving the accuracy of claims decisions. This allows the insurer to handle a higher volume and velocity of claims, while improving overall customer experience, it says.
Karan Bajwa, VP of Google Cloud in Asia Pacific, adds: “This collaboration exemplifies how our strategic partnership with Prudential can empower its workforce to drive confident decision-making, improve the overall experience for policyholders and create meaningful innovation in healthcare and finance.”
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