• About
  • Advertise
  • Careers
  • Contact Us
Saturday, June 21, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Insurance

Prudential Pioneers use of Generative AI for Faster Medical Claims

...in global-first partnership with Google Cloud

by Peter Oluka
October 24, 2024
in Insurance
0
Prudential and Google Cloud partnership
Prudential and Google Cloud partnership

Prudential and Google Cloud partnership

UBA
Advertisements
  • Prudential will use Google’s MedLM family of language models to simplify and summarise claim-related documents, including medical reports and invoices, for quicker approvals and pay-outs

Prudential PLC is using MedLM, Google’s family of foundation models fine-tuned for healthcare industry use cases, to improve the accuracy and efficiency of medical insurance claim decisions. This was announced today.

Prudential is one of the first insurance providers globally to use MedLM – which is typically used by healthcare organizations to build solutions for doctors, hospitals, and other medical providers to deliver better experiences for healthcare workers and patients.

Starting in Singapore and Malaysia, Prudential will use MedLM to analyse documents submitted alongside health insurance claims, such as diagnostic reports, prescriptions and invoices.

MedLM supports human decision-making with its ability to extract relevant information and code it accurately for claims, helping to reduce the potential for errors caused by manual data entry, so claims can be processed faster and more accurately.

The announcement follows several proof-of-concept tests by Prudential that showed its use of MedLM doubled the automation rate of claim reviews and assessments, in addition to improving the accuracy of claims decisions – allowing the insurer to handle a higher volume and velocity of claims while improving overall customer experience.

“Prudential’s early tests with MedLM demonstrate that generative AI can play a major role in efficiently tackling the growing volume of health insurance claims, resulting in more frictionless processing and a faster turnaround time for customers,” said Arjan Toor, CEO, Health at Prudential plc. “We’re proud to pioneer this innovative approach to using MedLM to support our operational efficiency as we continue to expand our health insurance offering – while delivering our mission to be the most trusted health partner for customers in Asia and Africa.”

Prudential will apply MedLM to select medical insurance claims made in Singapore and Malaysia over a period of 3-4 months, then compare the AI’s analysis and advice to actual decisions using current approvals processes during this time.

Doing so will help Prudential identify areas where MedLM can deliver the greatest productivity improvements and most useful advice to claims assessors, while maintaining a “human in the loop” at critical stages of the decision-making process.

“In a fragmented and often confusing healthcare landscape, data and AI are enabling us to provide care beyond coverage for our customers,” said Toor. “Our strategic partnership with Google Cloud has given us a valuable first-mover advantage in adopting generative AI to improve the customer experience at an important moment of truth. This is just the first step in using generative AI to deliver seamless, digitally enabled healthcare experiences at every step of our customers’ health journey; from the point of diagnosis, through treatment, recovery and prevention.”

“Prudential has taken a truly innovative approach by adapting MedLM’s advanced healthcare and medical-specific capabilities to one of its core business processes,” said Karan Bajwa, vice president, Google Cloud in Asia Pacific. “This collaboration exemplifies how our strategic partnership with Prudential can empower its workforce to drive confident decision-making, improve the overall experience for policy holders, and create meaningful innovation in healthcare and finance.”

Loading

Advertisements
MTN ADS

Author

  • Peter Oluka
    Peter Oluka

    Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

    View all posts
0Shares
Tags: Karan BajwaMedLMPrudentialPrudential Plc
Peter Oluka

Peter Oluka

Peter Oluka (@peterolukai), editor of Techeconomy, is a multi-award winner practicing Journalist. Peter’s media practice cuts across Media Relations | Marketing| Advertising, other Communications interests. Contact: peter.oluka@techeconomy.ng

Next Post
Zoho and NVIDIA

Zoho Corporation to Leverage NVIDIA NeMo to Build LLMs

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Professor Chiso Ndukwe-Okafor

Meet Professor Chiso Ndukwe-Okafor: Empowering Minds, Transforming Futures and Reducing the ‘Japa’ Impact on Youths

2 years ago
Naira Devaluation

CBN Approved Sale of US$20,000 To Eligible BDC

10 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.