Predict severity for pending claims, (or settlement,) in low, medium, and high dollar ranges starting at the first notice of loss, and then follow the right course of action. For example, $0 to $10,000; $10,000 to $20,000, and $20,000 to $30,000 and above.
Claims Managers can leverage these severity predictions to adjust their resources and workflows, while an operational team can leverage Charlee’s red flags and alerts (deep insights at a claim level) for each claim to focus on investigation and adjudication. The red flags and alerts (deep insights at a claim level) derived from are Charlee’s behavioral pattern detection trained for identifying over 160 + insurance fraud schemes and meet the guidelines outlined in the Fair Claims Practices Act, which will help insurance carriers stay compliant.
Charlee’s predictions are more than 75% accurate because our machine learning models use pre-trained tags/topics/insights and historical trends. In addition, Charlee’s predictions come with explanations and context.