This is the final entry in a set of three posts – you can see the first on Reducing the cost of manual claims handling here and the second on Fast-tracking disability claims here. Each post is a real-world story that illustrates the importance of handling your claims...
This is the second in a set of three posts – you can see the first on Reducing the cost of manual claims handling here. The series is designed to use specific real-world stories to illustrate the importance of handling your claims effectively, not just efficiently....
Our CTO, Ryan Trollip, recently gave a webinar on claims automation with our partner Red Hat. Many companies spend heavily automating their claims process, but this spend is largely on handling a claim efficiently not on claims handling effectiveness. Digitizing...
For this year’s Halloween, I decided to build a DMN decision model that describes how I decide what costume to wear for the 2022 Halloween party – I own four costumes that sit in my cupboard that I select from for each year’s Halloween party.
An ocean of possibilities. The Mayflower Autonomous Ship recently completed a transatlantic trip to North America, completely unattended. It was able to achieve this feat with the help of an AI captain, a virtual decision maker on board to ensure safe travels through...
The military is also a very large organization. Like all large organizations it has a whole raft of back-office processes around its supply chain, training, and force management. Digitizing decision-making in these sorts of processes has proven able to make them more effective, quicker to execute and less wasteful while also reducing fraud risk. Applying digital decisioning here would allow the military to devote more of its resources to combat operations while sustaining the advanced logistical infrastructure that a modern military needs.
When we build claims handling solutions (and we build them a lot), we ensure the solution empowers the business to make rapid change, enables improved customer experiences and breaks down each decision to its fundamental elements so that real-time adaptations are easy.
Decision Management Solutions provides solutions and services that help organizations make more data-driven decisions by applying advanced analytics, artificial intelligence (AI), business rules, and supporting technologies. As our name would imply, we are a leading...
COVID-19 accelerated the need for next-generation claims-processing goals. To make these capabilities a reality and create long-term value, insurers should focus on five key areas.
We recently posted a poll on where insurers see digital transformation making the biggest impact on their business. Decision Management Solutions has helped many leading insurance businesses modernize over the years – so we have lots of experience in this area - but...
Continuing our series on AI management options (kicked off by the HBR article Managing AI Decision-Making Tools), the final option is Human out of the loop (HOOTL). In these systems, the decisions must not only be made autonomously but it is not practical or desirable...
Continuing our series on AI management options (kicked off by the HBR article Managing AI Decision-Making Tools), the next option is Human on the Loop (HOTL). HOTL systems are most common in situations there is a need for 100% straight through or automated processing...
Continuing our series on AI management options (kicked off by the HBR article Managing AI Decision-Making Tools), the next option is Human in the Loop For Exceptions (HITLFE). This option is probably the most common in our clients. Our typical client is aiming to get...
Michael Ross, an executive fellow at the London Business School and DMS CEO, James Taylor recently had an article published on the Harvard Business Review: Managing AI Decision-Making Tools. "The nature of micro-decisions requires some level of automation,...
Read moreBasing your next generation credit decisioning approach on a robust decision model, ideally one built using the industry standard Decision Model and Notation (DMN), will help you achieve all the best practices, McKinsey identified.