Wisedocs launches 2023 Whitepaper
Toronto ON (May 26, 2023) – Wisedocs is pleased to announce the release of their 2023 whitepaper, Claiming a Stake in the Future of Insurance: What Happens Next. In this report, Wisedocs analyzes and reviews the recent growth in the insurtech industry and how artificial intelligence (AI), and machine learning (ML) will impact the claims space as we push towards an automated and technology-first approach in the future. Given the claims industry that has always demanded resilience from its players across insurance, legal, healthcare, and its claimants we believe it’s time to acknowledge that the exciting future is here—and there’s no looking back.
What’s Next for the Claims Industry?
The insurance, claims, and medical evaluation sectors that comprise the non-life insurance sector is a market valued at $844B in 2022. Third-party administrators and insurance claims adjusters are a $274B market in the United States (US) alone, while workers’ compensation is predicted to reach $55B by the year 2028. The field of medical claims processing—which includes only the bodies that act as intermediaries between insurance companies, lawyers, and healthcare professionals (including independent medical evaluators)—is a $5B industry itself, growing at a rate of 4% per year. As the industry begins to leverage existing technology and looking for new solutions to long-standing challenges, claims providers are facing a seismic shift. Artificial intelligence now makes it possible to tackle the hurdles of unstructured medical data in less time, bringing with it more opportunities for change.
The Future of Claims is Changing
The pandemic pushed the claims industry into new territory and emerging technology has rapidly kept pace. Digitization of the insurance, healthcare, and workers’ compensation industries has already begun to unfold, bringing with it new ways of working that save both money and time. All of this suggests a positive outlook for the future and a shift in the right direction. As for ‘what happens now’, download your copy of Wisedocs’ 2023 whitepaper to find out.
In your copy of the latest report, Wisedocs dives into:
- What’s Next for the Claims Industry?
- Claims, Insurance & Workers’ Compensation: a sprawling market with human implications
- Tech Steps In: AI opens the door to opportunities for growth
- The Future of Claims: trends, insights, and shifts to come
- The Future is Here and there’s no looking back
Download your copy of Wisedocs’ report on the future of insurance and insurtech at the link where we delve deeper into the insurance industry landscape, discuss the digital revolution happening in claims—and the untapped potential it represents: whitepaper: Claiming a Stake in the Future of Insurance: What Happens Next?
Wisedocs is the medical record review machine learning software for insurance carriers, healthcare providers, laws firms, and TPAs making waves in the claims industry. We serve the auto, liability, disability, workers’ compensation, tort law, and similar markets. Wisedocs provides an easy-to-adopt solution for improved accuracy and speed to deliver improved outcomes in the medical claims process. To learn more about Wisedocs and the smart way to review medical records, visit wisedocs.ai.
Source: WisedocsTags: Artificial Intelligence (AI), InsurTech, InsurTech Spotlight, Machine Learning (ML), outlook / predictions, whitepaper, Wisedocs