Solution will Automate Benefit Customers’ Claim Reporting and Data
CAMDEN, NJ (December 2, 2021) – CogniSure AI, a Delaware-based corporation, has announced the launch of their “Benefit Insights” solution, an AI platform that automates the process of extracting data from unstructured benefit documents received from health insurance providers and provides detailed insights on the data. With the CogniSure Benefit Insights platform, brokers can expect to dramatically reduce manual effort and access actionable real time insights that can be shared with their self-funded employee benefit clients, deepening their client relationships, and enhancing their client offerings.
“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 takes hundreds of hours of manual manipulation to harmonize reams of disparate reports and turn them into actionable data points to help clients better manage self-funded plans” , says 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 and creates a powerful web-based data set we can use to help clients implement strategies to bend the cost curve”, says DiBella.
Conner Strong & Buckelew will use the Benefit Insights platform to produce regular claim and performance reports for self-funded customers. The system will create an online platform for employers and plan sponsors to panoramically view all self-funded claims data on a regular basis. Benefit Insights pulls in unstructured claims and eligibility data securely from health plans, PBMs and other vendors and creates online harmonized data results so that employers and plan sponsors can focus on trends, drivers of cost and other opportunities around plan management.
“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”, says 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,” says 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”, says Brown.
The CogniSure AI platform provides actionable insights from unstructured data buried in insurance documents such as submissions, loss runs, policies, schedules, and employee benefits. Created by insurance professionals, CogniSure goes beyond data extraction and provides unrivaled insights to address the complexity of insurance document processing. Learn more at CogniSure AI.
About Conner Strong & Buckelew:
Conner Strong & Buckelew is among America’s largest insurance brokerage, risk management and employee benefits brokerage and consulting firms. The firm is an industry leader in providing high-risk businesses with comprehensive solutions to prevent losses, manage claims, and drive bottom-line growth. Its employee benefits practice focuses on providing best-in-class benefits administration, health and wellness programs and strategic advisory services.
Founded in 1959 with offices in New York, New Jersey, Pennsylvania, Georgia, Massachusetts, Florida, and Delaware, Conner Strong & Buckelew has a team of 450+ professionals, serving clients throughout the United States and abroad. For more information, visit www.connerstrong.com or follow us on LinkedIn (@ConnerStrong&Buckelew), Twitter (@connerstrong), Facebook (@connerstrongbuckelew) Instagram (@connerstrongbuckelew) and YouTube (Conner Strong & Buckelew)
Learn more at Conner Strong Employee Benefits.