The continual difficulties insurance companies encounter when attempting to utilize general-purpose LLMs are the reason behind the development of this new product.

Complex, industry-specific activities are frequently too difficult for these models to do, which results in inefficiencies including greater compliance risks, higher indemnity costs, and claims leakage.

In order to solve these problems, the EXL Insurance LLM focuses only on procedures connected to insurance.

Tasks like question-answering, anomaly detection, data extraction, and claims reconciliation are all handled by the product's design.

Constructed on the full-stack NVIDIA AI platform by EXL AI Labs, the LLM outperforms pre-trained models such as GPT4, Claude, and Gemini by 30% when it comes to insurance tasks. Not only does it save expenses dramatically, but it also guarantees regulatory compliance.

To further improve its performance, EXL trained and optimized the model on the NVIDIA NeMoTM platform using cutting-edge methods including supervised fine-tuning (SFT) and low-rank adaptation (LoRA).

In addition to retrieval-augmented generation (RAG) for managing lengthy documents and producing perceptive answers, this system makes use of NVIDIA Triton Inference ServerTM to maximize GPU performance.

To further enhance user experience, the EXL Insurance LLM incorporates NVIDIA NeMo Guardrails for improved input and output control. The program is perfect for handling handwritten notes, claims data, and complicated medical records because of its strong structure.

Executive vice president and chief digital officer of EXL, Anand "Andy" Logani, stated,

"To fine-tune our models, EXL has produced curated data sets with domain-specific tagging, labeling, and question and answer pair development for claims adjudication. EXL has 25 years of experience processing medical record data for bodily injury, workers' compensation, and general liability claims. The EXL Insurance LLM guarantees complete regulatory compliance and provides 30% more accuracy and 30% less prices than generic LLMs.

Numerous functions are supported by the EXL Insurance LLM, including as data intake, categorization, and triaging for customer service, payment integrity, and claims adjudication. Insurance providers may improve their decision-making and client relationships by using the LLM, which increases negotiating accuracy, detects abnormalities, and provides real-time insights.

The EXL Insurance LLM, created by the EXL AI Labs, is still growing and expanding its use cases throughout the insurance value chain, including underwriting, premium audits, and financing, proving its adaptability to meet industry-specific requirements.