AI that works for

Insurance

Lazarus AI helps the insurance community solve some of their hardest problems by applying proprietary artificial intelligence paired with a deep understanding of the industry. Lazarus models create competitive advantages and deliver outsized efficiency across underwriting, investments, claims and M&A. Secure deployment along with a dedicated subject matter expert team delivers a seamless integration of new capabilities across subsectors and geographies with standard-setting time to value.

20%

of top global insurers run on Lazarus

1/3

of faxed medical records touch a Lazarus product

50%

of prior authorizations in the northeastern US are being processed by Lazarus

High precision

Our models rely on the inputs they are given and tuned only to answer when it finds reliable data to substantiate.

Transparent

There is no “black box” in our process. All of our outputs provide explainability metrics and auditable context.

Zero Data Risk

Our solutions can be deployed behind your firewall. The data you put through and what you do with it is your business alone.

Showcase

RikAI2 Capabilities

Risk Underwriting

What people are saying

“Took me about 3 days to get something working for benefits summaried. Haven’t had to touch it since. (it’s been running for 12+ months)”

—CTO
Insurance Brokerage

“Around 80% of the time our claims handlers preferred your summaries over physician generated ones. (We tied most of the rest of the time)."

—CIO
Top 5 Life Insurer

“With three days of prompting, without trying to optimize prompts, we were able to eliminate 6 weeks of engineering work in what would typically be a 3 month process.”

—Senior Data Scientist
Large Worker's Compensation Carrier

Metrics

90%

Accuracy in automating data extraction and classification in 8 weeks

10X ROI

Advanced review including risk rating of entire portfolios in M&A deals, resulting in ~10X ROI

30 min

Reduced disability claims end-to-end processing from 2-3 weeks to 30 mins

Case Studies

Accelerating Claims Processing

In partnership with our customer, a leading US Insurance company, we engineered an AI first data processing workflow by automating data extraction and signature verification. With over 97% accuracy and confidence levels, this solution allows staff to focus on high-value tasks, showcasing the transformative power of AI in the insurance industry.

Transforming Insurance Operations

Discover how Lazarus AI accelerated claims processing for a leading US Life Insurance company by reducing time-sensitive claim handling from 30 days to just 30 minutes. By seamlessly integrating advanced AI technology into existing systems, Lazarus AI enhanced accuracy and efficiency, mitigating reputational and regulatory risks while improving customer satisfaction.

Uncovering Hidden Risks

A reinsurance company leveraged Lazarus AI to identify critical data anomalies during a potential acquisition. By integrating seamlessly with existing tools, Lazarus AI revealed significant under-reserving issues, saving the company from unforeseen liabilities. This case study highlights the power of AI in enhancing due diligence and ensuring data quality, providing a competitive edge in the insurance industry.

Precision Underwriting

Our team helped redesign underwriting for a top US life insurer by leveraging advanced AI models to refine risk assessment. By identifying nuanced patterns in medical data, the insurer was able to accurately price premiums and approve previously rejected applications, enhancing profitability and underwriting quality.

Insurance Insights by John Keddy

Decisioning