Keoghs AI Lawyer Will Speed Up Claims, Cut Costs for Insurers

Keoghs Law has launched Lauri Lawyer, an AI powered virtual legal eagle, which the law firm hopes will prove a game-changer in the claims market. Lauri will initially handle non-litigation cases and Keoghs estimates that some straightforward claims will be settled in a matter of seconds via the new AI service.

Lauri communicates using natural language in emails and integrates with Keoghs’ Tracker case management system. Everything is designed to speed up the claims handling process and get to the decision-making point that bit quicker.

Keoghs partner and director of product development, Dene Rowe, said: “There has been a lot of talk in the industry over the last year or two regarding AI, in particular solutions being discussed that almost hijack the true meaning of artificial intelligence.

“Our approach is to bring a true game-changer to market, a solution that is fully automated and robotic in nature but importantly delivers a quantum leap in speed, efficiency and cost reduction.

“Additionally, we did not want to simply bring a DIY-litigation portal based system to market that would create duplication and inefficiencies in our clients’ own businesses. For AI to be embraced, there has to be a benefit for our clients, and replicating a human interaction with no extra systems, logins or processes is crucial. With Lauri, the claims handler simply communicates through email as they generally would at present with human lawyers.”

Insurance-Edge spoke to Richard Tromans from who works as a consultant with companies looking to streamline their claims handling.

Q. Do you think insurers will start asking their legal partners, or panel suppliers about their AI capability as part of contract negotiations?

A. They already are. Brokers and insurers want to know which AI packages are being used, how is it being deployed and developed? Right now lots of companies in the sector are using chatbots, but these are fairly basic in terms of their response, there still needs to be lots of development before helpbots replace humans.

Q. Why is that?

A. Because when you programme a bot, it works with a very narrow set of data parameters. It asks basic questions and is often useful for accident triage – FNOL perhaps – but beyond that, the bot can be quite repetitive, or unsure how to process complex answers about time off work, extra costs involved post-accident etc. Bots are good at imitating humans up to a point, but AI can still struggle with understanding the nuances within a human answer.

Q. What advantage do you think Keoghs gain with Lauri Lawyer?

A. It raises the whole AI profile, and it’s a really good example of AI being used properly, as part of a claims processing strategy. AI truly wins when you use it to sift through similar tasks, let it do the admin and small, easier to settle claims.



About alastair walker 12560 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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