(Image source: Damco.)
Damco Solutions Inc., a Princeton, N.J.-based technology solutions and digital services company, has announced the partnership with omni:us, (Berlin), an artificial intelligence as a service (AIaaS) provider to fast-track insurers’ adoption of data-driven cognitive claims management. Through the partnership, Damco Solutions will leveraging omni:us’ capabilities to help insurance businesses accelerate their pace of digital transformation, a Damco statement says. The partnership will support insurers seeking to quickly deploy AI into their claims lifecycle, streamlining the interactions between insurers and insured parties.
The firms characterize the combination of Damco’s Insurance industry experience, technology competence with omni:us’ expertise in AI as providing highly differentiated digitization services helping insurers reinvent the claims journey with high impact automation.
Damco notes omni:us capabilities relevant to the partnership as follows:
Digital FNOL: Real-time claims management that converts information into actionable claims data by minimizing touchpoints with intelligent claim automation.
Claims Indexation: AI cognitive process that streamlines document extraction and classification to read, interpret, and understand data by eliminating the manual workflow.
Completeness Check: AI-powered claims handling process with AI-powered decisions and recommendations, providing insights for regulatory compliance and reducing manual claims touchpoints.
Coverage Check: Intelligent claims automation improving productivity in the claims process by eliminating time-intensive tasks, identifying noncovered claims, detecting fraud, claims leakage, etc.
“We look forward to collaborating with omni:us to help insurance companies with AI-based cognitive claims management solution and digital technologies to simplify claims lifecycle,” comments Mohit Gupta, Founder and CEO, Damco Solutions Inc. “Together, we would be able to help a broader range of insurers industrialize innovation in claims management. With the addition of omni:us, we see tremendous opportunity to enlarge our approach and help more businesses supercharge their future-readiness.”
“omni:us and Damco share a common aspiration: to drive insurance businesses towards a more efficient and customer-oriented experience,” comments Sofie Quidenus-Wahlforss, Founder & CEO, omni:us. “We at omni:us are excited to team up with such a veteran player in the field as Damco. Both sides will benefit from the other’s strengths and specializations and be further empowered to realize our ultimate goal of bringing about wide digital transformation to the insurance sector.”