Sprout.ai, the claims automation technology solution for the insurance industry, has signed a partnership with AdvanceCare.

Sprout.ai works in partnership with top-tier insurance companies, building ground-breaking AI and data-led products to automate the claims process for customers. Sprout.ai’s technology delivers instant decisions on claims, with top-tier accuracy, enabling a frictionless claims experience and driving high customer retention with improved efficiency. The technology can read the content of individual insurance policies to analyse coverage and conditions, and then match and settle the claim. 

Following a successful pilot, which enabled AdvanceCare to cut down the claims settlement turnaround time to near real-time, Sprout.ai and AdvanceCare agreed to sign a contract to implement Sprout.ai’s technology. By using Sprout.ai’s technology, AdvanceCare will unlock a full end-to-end claims automation, leveraging the product capabilities to extract relevant data from AdvanceCare’s healthcare invoices to index claims.

During the pilot, Sprout.ai analysed a significant sample of healthcare invoices across a series of categories of invoices, including hospital, dental, pharmaceutical, independent workers and optical. The pilot outcomes showed very high accuracy levels in the collected fields across all categories.

Using Sprout.ai, AdvanceCare will be able to scale up its business by serving more customers, while maintaining an exceptional claims experience. The partnership will allow AdvanceCare to further enhance its efficient claims-handling process, by reducing the handling time classifying the information available on invoices. Using Sprout.ai’s AI technology will increase the work capacity and reduce the work volume per team member.

Commenting on the partnership, Sprout.ai CEO Roi Amir said: 

“We are delighted to be partnering with AdvanceCare, one of the largest health insurance platforms in Portugal. Using AI in the indexing process will allow the AdvanceCare team to manage claims quicker and more efficiently, improving the customer experience. It’s a win-win for everyone and we are happy to be part of this positive change.”

Sergio Melro, COO of AdvanceCare said: "AdvanceCare is continuously looking for innovative ways to improve the insurance claims experience. We selected Sprout.ai as our partner, as they have demonstrated that their technology and approach can take us one step forward in our digitalization and efficiency journey."