Implementing AI-driven processes improved claims analytics accuracy by 30%
SAN DIEGO, Oct. 13, 2020 /PRNewswire/ -- Mitchell, a leading provider of technology, connectivity and information solutions to the Property & Casualty claims and Collision Repair industries, today announced that Cannon Cochran Management Services, Inc. (CCMSI) has been named a 2020 mPower Customer Award winner. CCMSI transformed their businesses through artificial intelligence (AI) to innovate its claims process and dramatically improve accuracy, enabling them to become more efficient, more accurate and more customer focused.
The mPower Customer Award program recognizes industry leaders who transform their businesses through technology or process innovations to help achieve better outcomes for their customers. The award was presented during the company's annual mPower industry conference, held virtually this year.
"CCMSI is a great example how a clear vision and a willingness to make substantial changes can make a difference in serving customers," said Alex Sun, Mitchell President and CEO. "Their efforts deserve to be recognized and shared through this award, and are an example for other organizations looking for ways to improve outcomes."
New AI Model Helped CCMSI Seal the Cracks in the Claims Cycle
CCMSI, a large boutique third-party administrator, was recognized for developing and implementing an innovative AI-driven intervention model designed with one simple goal: to flag at-risk claims for adjusters so nothing falls through the cracks during the claims process.
By expanding their data mining capabilities and then using AI to identify impact factors and automatically alert adjusters, CCMSI saved a significant amount of time and energy. It also allowed them to focus more intently on what they do best: help claimants get back on the job safely and quickly. The model is now being used with several CCMSI customers nationwide and is driving exceptional results.
"Right now AI is preventing claims from falling through the cracks," said Skip Brechtel, CCMSI's Chief Information Officer. "We get daily predictions on every claim. We look for variances between what our adjusters have evaluated the claim to be and how the AI scores the claim. Where there's a variance we want our adjuster and supervisor to review that."
By implementing AI, CCMSI improved their accuracy over legacy analytics by 30%. Read more about this award-winning project on the mPower website.
mPower Conference Dives Deep into the Property & Casualty Industry
The mPower Customer Awards were part of the annual Mitchell mPower Conference, held virtually this year. The conference features experts from Mitchell, Genex, Coventry and several other industry organizations discussing industry insights, innovative technology and future trends.
Several new products and services were announced and demonstrated at the conference, including the availability of Mitchell Intelligent Vision, the first-ever Extended Reality (XR) hands-free headset integrated into the collision repair workflow, the Mitchell MD-500 Diagnostic Tool, a new all-in-one system for diagnostic scanning, calibration and estimating, and a new data visualization tool called Mitchell Provider Data Explorer. Customers interested in viewing this year's mPower Conference sessions should contact their Mitchell representative.
About Mitchell International
Headquartered in San Diego, California, Mitchell International, Inc. delivers smart technology solutions that simplify and accelerate claims handling, repair processes and pharmacy transactions, driving more accurate, consistent and cost-effective resolutions. Mitchell integrates deep industry expertise into its workflow solutions, providing unparalleled access to data, advanced analytics and decision support tools. Mitchell's comprehensive solution portfolio and robust SaaS infrastructure connect its customers in ways that enable tens of millions of electronic transactions to be processed each month for more than 300 insurance providers, over 65,000 pharmacies and 30,000 collision repair facilities, as well as countless other Property & Casualty industry supply partners across the Americas and Europe.
Mitchell, Genex and Coventry have recently combined their joint industry expertise and advanced technology solutions into one organization to simplify and optimize property, casualty and disability claims processes and services. For more information, please visit mitchell.com.
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SOURCE Mitchell International