Lost-time workers' comp claims that involve lawyers cost three times more and take twice as long as those that don't need any legal intervention, according to Gradient AI. Credit: wavebreakmedia/Shutterstock.com
Artificial intelligence can help reduce the legal involvement in lost-time workers' comp claims by as much as 15%, which in turn can reduce costs for these claims by as much as 5%, according to a study of more than 200,000 claims by Gradient AI.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
