CogniSure AI's technology will automate the reporting and data collection to benefit customers.
FREMONT, CA: AI enhances the ability of healthcare professionals to understand better the daily patterns and needs of the people they care for, and with that understanding, they can provide better feedback, guidance, and support for maintaining a healthy lifestyle. "For self-funded employers, benefit plan claim reporting remains a major pain point. In representing our clients, we get a myriad of unstructured data from health plans and insurers that makes data evaluation time-consuming and complex. It takself-funded ples hundreds of hours of manual manipulation to harmonize reams of disparate reports and turn them into actionable data points to help clients better manage ans," states Joe DiBella, National Benefits Practice Leader at Conner Strong & Buckelew. "Thankfully, CogniSure AI has revolutionized this archaic process with their new Benefit Insights solution. Their platform systematically merges data from multiple vendors across multiple lines. It creates a powerful web-based data set we can use to help clients implement strategies to bend the cost curve." CogniSure AI, a Delaware-based company, has come up with its "Benefit Insights" solution. This artificial intelligence platform automates extracting data from unstructured benefit documents received from health insurance providers and provides detailed insights into the data. Brokers can anticipate significantly decreased manual effort and gain access to actionable real-time insights that they can share with their self-funded employee benefits clients, thereby deepening client relationships and expanding client offers.
Conner Strong & Buckelew will utilize the Benefit Insights platform to provide monthly claim and performance statistics for its self-funded customers. Benefit Insights securely imports unstructured claims and eligibility data from health plans, PBMs, and other suppliers and generates online standardized data results for employers and plan sponsors to focus on plan management trends, cost drivers, and other possibilities. Employers and plan sponsors will regularly access a consolidated view of all self-funded claims data via the system.
"Unstructured data is a massive problem in the insurance industry. With tremendous success on our loss runs and submission intake solution for the P&C insurance industry, we are excited to launch our 'Benefit Insights' for the employee benefits and health insurance industry. We are grateful to Conner Strong & Buckelew for their support and strategic partnership in bringing this solution to the employee benefits market," comments Sai Raman, Founder, and CEO, CogniSure
"Data is key in effective benefit plan management and having access to data in a more centralized format will help us deliver better results for our customers," states Tammy Brown, Practice Leader of Data Analytics and Actuarial Services at Conner Strong & Buckelew. "Our adopting the Benefit Insights solution will help us take data management to the next level."