Atlanta, GA (Feb. 3, 2025) \u2013 Turvi, a new technology solution and innovation partner to the insurance industry, is pleased to announce the launch of CoverAI, a new product which leverages AI to help claims managers swiftly interpret and summarize complex policy language, enabling faster claims coverage decision-making and more consistent interpretation to help reduce human error.<\/p>\n
CoverAI is informed by a high level of insurance intelligence, leading to more relevant and reliable results than can be generated by a generic Generative AI tool. Its natural ability to correlate entities to policy definitions, coupled with customized integration and data ingestion capabilities, make it a uniquely useful solution to some of the biggest problems that carriers are trying to solve today.<\/p>\n
A common challenge that insurance carriers face is the difficulty of interpreting intricate policy wordings in order to make highly nuanced decisions about a policyholder\u2019s claims coverage. Insurance policies can often have multiple endorsements on top of a base policy, creating hundreds of pages of documentation for a single policyholder. CoverAI leverages a fine-tuned Large Language Model and a customized ID framework to simplify the policy interpretation process, allowing claims professionals to cut through all of that paperwork rapidly and precisely. The tool\u2019s ability to understand user questions, correlate the queries to the policy, and bring back the requested information with a trusted citation leads to enhanced accuracy and auditability, informed decisions, and \u2013 perhaps most importantly, a significantly faster claims cycle.<\/p>\n
Turvi CEO Ken Tolson commented, \u201cThe CoverAI functionality is a game changer. We have tested it with a number of organizations, and we have received overwhelmingly positive feedback, both in terms of reduced cycle time and the quality of the insights produced. At Turvi, our goal is to drive efficiencies and improve the customer experience. CoverAI is the latest example of how we are achieving that goal.\u201d<\/p>\n
Tolson added, \u201cJust like our other solutions, CoverAI can fully integrate with other claims management systems and is also offered as a standalone Application Programming Interface (API). We look forward to continuing to evolve and improve the tool with needs of the customer.\u201d CoverAI is the third integrated, AI-powered SaaS solution offered by Turvi, joining Asservio, a digital estimate review tool, and Digital Desk, a claims triage solution.<\/p>\n
Turvi is a technology solution and innovation partner for the insurance industry, with a suite of market-ready SaaS solutions that enhance efficiency, accuracy and customer satisfaction in the P&C claims ecosystem. Headquartered in Atlanta\u2019s Technology Square and funded by claims management leader Crawford & Company, Turvi is leveraging AI capabilities to transform the way the industry manages claims, bringing better outcomes for carriers and policyholders through technology. For more information, visit www.turvi.io<\/a>.<\/p>\n Crawford & Company (NYSE: CRD\u2010A and CRD\u2010B)<\/em> is a leading global provider of claims management and outsourcing solutions to insurance companies and self\u2010insured entities with an expansive network serving clients in more than 70 countries. The Company\u2019s two classes of stock are substantially identical, except with respect to voting rights for the Class B Common Stock (CRD-B) and protections for the non-voting Class A Common Stock (CRD-A). More information is available at www.crawfordandcompany.com<\/a>.<\/p>\n Source: Crawford & Company (Canada) Inc.<\/i><\/p>\n Tags: Artificial Intelligence (AI)<\/a>, automation<\/a>, Crawford & Company<\/a>, document management<\/a>, launch<\/a>, Software as a Service (SaaS)<\/a>, Turvi<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":" New tool automates the policy document search process and interprets policy wording to accelerate coverage decision-making Atlanta, GA (Feb. 3, 2025) \u2013 Turvi, a new technology solution and innovation partner to the insurance industry,...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23121"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=23121"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/23121\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=23121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=23121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=23121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}About Crawford\u00ae<\/b><\/h4>\n