Streamline claims, detect fraud, target marketing, and more!
Identify potential risks and proactively forecast and mitigate losses while offering the best premiums.
Automate repetitive tasks, search for anomalies in transactions, and identify unusual activity.
Identify and Segment Clients
Attract leads and gain detailed insights about customer's patterns and market trends.
Process claims and applications and enhance operations across departments.
Discover some of the solutions we've provided for the insurance industry.
Screening, reading, and processing claims made easier than ever
Processing claims was one of the most time consuming and costly operations at a third-party insurance administrator. The process was also subject to human errors and biased decision making.
Leveraging AI and RPA technology, Paragon Shift built an algorithm that scanned and settled common cases based on existing data and transferred unique cases for human review.
The algorithm not only cut costs and time in processing claims, but also enabled employees to re-direct their efforts to more value-added tasks and eliminated human errors in decision making.
Building tailored premiums based on customer data and needs
Risk-analysis processes at a leading insurance company in the United States were not only leading to unpredictable and costly errors but were also leading to overpriced premiums and frustration for customers.
Leveraging Data Transformation and Machine Learning, Paragon Shift built an algorithm that unifies customer's data from different sources and uses that data to more accurately determine risk.
The algorithm provided clients with customized premiums, giving the company a competitive advantage while accurately forecasting risks and minimizing losses.
Fraudulent claims and inaccurate information were one of the main things hindering an insurance company from reaching target financial performance.
Leveraging Data Analytics and Artificial Intelligence, Paragon Shift built dashboards that depicted each customer’s medical activity and history in a timeline and integrated ML tools to identify inconsistencies.
The system helped agents easily keep track of each customer's journey and immediately identify suspicious activity, which mitigated loss due to fraud.
Identifying fraudulent claims and suspicious activity in near real time