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Expert.ai Launches Enterprise Language Model for Insurance (ELMI)
Wednesday, October 4, 2023
ELMI offers insurers a cost-effective, accurate, and flexible language model built specifically to accelerate core processes from underwriting to claims
BOSTON, Sept. 26, 2023 /PRNewswire/ -- Expert.ai unveiled today its "Enterprise Language Model for Insurance" - ELMI, a cutting-edge innovation in domain trained language models, set to help insurers reach their process automation and digital transformation goals with the highest accuracy. By simplifying and powering the interaction with language data within the expert.ai Platform for Insurance, Insurers can access solutions that scale and take advantage of deep insurance domain expertise combined with the best and most cost-effective attributes of Large Language Models (LLMs) to automate core processes.
Through the expert.ai Platform for Insurance, ELMI supports key capabilities, including:
-- Generative Summarization: generate accurate summaries, condensing vast
amounts of claim or policy information into concise insights, saving
time and accelerating straight through processing or human review
activities.
-- Zero Shot Extraction: extract crucial insurance data from
structured/unstructured, handwritten/typed, good quality/bad quality
sources with accuracy and automatically normalize output formats and add
medical annotations such as ICD 9/10 medical codes.
-- Generative Q&A: answer questions quickly so underwriters and claims
handlers can extract meaningful insights from proprietary case files by
asking questions using natural language queries.
Walt Mayo, expert.ai CEO, said: "Delivering on our commitment to innovation and higher level of efficiencies in the insurance sector, ELMI sets a new standard for AI-driven language solutions. As part of the expert.ai Platform for Insurance, ELMI equips insurers with the generative AI tools they need to automate the complex landscape of language-driven processes, while also offering substantial cost savings."
Unlike general knowledge large language models, ELMI is:
-- Trained for Insurance: Eliminating the cost and complexity of training
language models, ELMI is engineered with a deep understanding of the
insurance domain, providing insurers with generative AI capability ready
to tackle underwriting and claims processing challenges.
-- Built for the real-world: ELMI is integrated into expert.ai end-to-end
insurance solutions to meet the practical challenges of AI at scale
across insurance workflows from underwriting to claims. Expert.ai
purpose-built approach addresses critical shortcomings of
general-purpose language models and brings the power of generative AI to
improve accuracy and reduce costs.
-- Cost Optimized: When compared to hosted token-based models, ELMI offers
a more cost-effective solution, reducing expenses related to usage,
hosting, running, and maintenance, while still delivering superior
performance and accuracy.
-- Secure and Compliant: ELMI is designed to ensure compliance with the
most stringent governance standards and does not share sensitive
insurance data.
-- Cloud-agnostic: Offering the flexibility to deploy on any cloud
infrastructure or on-premises, ELMI deployments easily meet insurer's
varying requirements.
For inquiries, demonstrations, or more information about ELMI, please request a demo.
About expert.ai
Expert.ai is the leading enterprise AI company solving complex language challenges. Our solutions deliver key information for publishers, streamline operations for insurers, drive revelations for pharmaceutical giants, and enhance customer interactions within financial services - all while automating traditional labor-intensive methods. By combining deep domain expertise with the finest attributes of Large Language Models, Machine Learning, and Symbolic AI, we are at the leading edge of linguistic advancements in hybrid AI. With a global presence in Europe and North America, we proudly serve clients that include AXA XL, Zurich Insurance Group, Generali, Sanofi, EBSCO, The Associated Press, Bloomberg INDG, and Dow Jones. For more information, visit https://www.expert.ai/
Media Contact:
Francesca Spaggiari,
pressoffice@expert.ai
Tel: +39 059 894011
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SOURCE expert.ai
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