Our solutions improve loss ratios and profitability for the insurance industry by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation.
What is Gradient AI?
Well, Chris, Gradient AI is a leading provider of proven artificial intelligence for the insurance industry. Today, we're specifically talking about what we do in the health insurance field. I might also just make sure that we focus when we're talking about artificial intelligence, I know it's a big buzzword today, but we are talking about artificial intelligence equals actionable insights. We are providing in a very efficient and quick manner, actual insights that you can predict risk and costs for groups.
How is Gradient AI different?
Well, Gradient AI combines the power of machine learning with medical and prescription data, delivering predictive insights to identify risk and protect claims with speed and accuracy, never before possible. Now, how we're doing that is we're taking in a basic census. So just your common census inputs, and we're feeding them into our models to ultimately make a risk prediction on every belly button in that group, as well as that group as a whole. In addition, we provide a prediction of claims cost for the group. On both of those predictions, we're taking into account claims data for the last five years and making the prediction for the next 12 months. We're using actual medical, retail, and especially RX claims line data on the groups down to five members to make our predictions and we're making those predictions in 90 seconds. So we're reducing blind spots. We're getting rid of the kind of tedious, laborious PHQ process, and we're delivering better plan performance.
Who is a good fit for Gradient AI?
Well, some of our customers include the most recognized insurance carriers, health plans, MGUs, TPAs, risk pools, captives, we work with PEOs and large self-insureds. But we're a good fit for anybody that's looking to more efficiently and accurately predict healthcare risk. By using our solutions, these entities will achieve a better return on risk. We are the top predictive analytics tool in the group health underwriting space today, and we're just getting started.