According to data from the National Association of Insurance Commissioners, the second-most common complaint that insurance customers made in 2021 was claim delays, ranked only after unsatisfactory settlement offers.
The story notes that “processing claims at scale presents a challenge for insurers, particularly where the claims entail factors like complex underlying health conditions. EvolutionIQ also monitors open claims to guide workers to those that require more attention or new actions, including claims that have potentially fallen through the cracks.” It’s all about applying artificial intelligence to drive actionable insights.Īs TechCrunch reports: “Informed by its predictive algorithms, EvolutionIQ spotlights dozens of claims from tens of thousands that are most likely to have the greatest outcome for claimants, carriers and clients.
A key factor driving EvolutionIQ’s successful Series A funding is that the insurance industry is in the midst of a dramatic, once-in-a-generation change in how it manages claims.