Sun, Dec 22 2024
Y-Combinator-backed Kyber is an AI-driven firm that has introduced a novel platform designed to automate the insurance companies' claims notification procedure.
According to InsurTech Insights, the new platform tackles inefficiencies in the claims notification procedure, which have long been a laborious problem for insurance adjusters.
Complex papers like Reservation of Rights notifications and Denial Letters must be manually drafted, reviewed, and sent. This process causes delays, bottlenecks, and non-compliance concerns.
By accelerating document preparation and strengthening compliance with internal and regulatory standards, this increases workflow efficiency.
In addition, Kyber's technology fully connects with claims management systems like Guidewire and Snapsheet and provides omnichannel distribution through both physical and digital channels.
Adjusters may focus on higher-value work since the technology saves them over 25% of their time by automating claims notifications. The potential to save time, together with increased accuracy and compliance, makes Kyber's solution an effective instrument for insurance teams.
Arvind Sontha, a co-founder of Kyber, said, "We founded Kyber to solve inefficiencies in the claims notice process." Adjusters may work more quickly, precisely, and satisfactorily by automating this tiresome procedure, which also ensures a more transparent and uniform workflow.
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