Mumbai February 7 2019: AI technology firm Arya.ai, started by IIT Bombay graduates in 201 a, has been chosen by India’s largest private sector non-life insurer, ICICI Lombard, to implement its Deep Learning and Neural Networks platform to cut down processing time for health insurance customers needing hospitalization.
Through plug and usable deep learning platform, Arya.ai automates most operational processes involved in banking and insurance, giving them competitive edge by dramatically cutting down development as well as processing time leading to significantly better response time.
With AI taking over the medical admissibility decisioning currently done by doctors, it will enable ICICI Lombard doctors to focus on more complex jobs.Arya’s Deep Learning solution has also helped ICICI Lombard in detecting and preventing false positive cases. This is a big help for genuine customers who will benefit from the improved quality service levels.
Says Vinay Kumar Sankararapu, CEO and co-founder of Arya.ai: “For ICICI Lombard, the end-to-end solution by Arya.ai simplifies complex Claims processes with plug-and-play ease. Using Arya.ai’s robust Deep Learning techniques to handle large claim processes reduces time taken from many hours to a few seconds.”
Adds Girish Nayak, ICICI Lombard’s Chief -- Service, Operations & Technology: “ICICI Lombard is the first Indian non-life insurance company to pioneer the use of Artificial intelligence and Machine Learning in health claim processing. Understanding medical diagnosis is a significantly complex activity for which we have deployed Arya’s AI technology leading to reduced cashless claim request approval time from the earlier average of 60 minutes to under a minute now.This response time improvement is extremely helpful in cases requiring emergency medical attention, since the cashless request can be processed without any time lapse and treatment can start immediately. Further, the cost optimization achieved using Arya’s Deep Learning health claim solution will eventually lead to affordable premiums, ultimately encouraging more Indians to embrace health insurance.”