Singapore – Prudential has forged a partnership with Google Cloud, utilising MedLM—Google’s specialised foundation models for healthcare—to enhance the accuracy and efficiency of its medical insurance claims process.
Among the first insurance providers globally to implement MedLM, Prudential is harnessing this technology—typically used by healthcare organisations—to create solutions that improve the experiences of healthcare providers and their patients.
Beginning in Singapore and Malaysia, Prudential will deploy MedLM to analyse documents submitted with health insurance claims, including diagnostic reports, prescriptions, and invoices. MedLM enhances human decision-making by accurately extracting and coding relevant information from these documents, significantly reducing the risk of errors associated with manual data entry. This technology enables faster and more precise claims processing.
This partnership comes after Prudential’s proof-of-concept tests, which demonstrated that using MedLM doubled the automation rate of claim reviews and assessments. This improvement increased the accuracy of claims decisions, enabling Prudential to process more claims quickly while enhancing the 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 for 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,” added Toor.
Prudential will implement MedLM for selected medical insurance claims in Singapore and Malaysia over the next 3-4 months, evaluating the AI’s analysis against existing decision-making processes. This approach aims to identify ways MedLM can boost productivity and offer valuable insights to claims assessors while ensuring a “human in the loop” at critical decision points.
“In a fragmented and often confusing healthcare landscape, data and AI are enabling us to provide care beyond coverage for our customers. 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,” Toor further explained.
Karan Bajwa, vice president of Google Cloud in Asia Pacific, said, “Prudential has taken a truly innovative approach by adapting MedLM’s advanced healthcare and medical-specific capabilities to one of its core business processes. 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.”
