95% of all Insurance claims require extensive research and management by adjusters to settle claims

30% of total revenue amounts to operating expenses in the insurance industry

Claims adjustment expenses make a significant part of the overall expense of an insurance carries.
 
There’s a need for an efficient mechanism that adapts
tochanging nature of claims, evolving consumer behavior and demographics. Using a newer approach, if claims can be more precisely segmented with the help of additional data and techniques, it is possible to reduce the resources and cost expended on processing the claims.

In this white paper, we present a deep learning based approach for fast-tracking insurance claims by segmenting them, enabling insurers to reach settlements with fewer overheads. 

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