Company: Tier1 Financial Solutions
Business Category: A technology provider of InsurTech tools to insurance practitioners
Maturity Status: Mature (more than 3 years since product went into production)
Product or Service: Alessa
Area: Life & Health insurance
Alessa is a solution designed to help insurance companies to review claims to ensure they comply with policies, detect those that require further investigation and track key performance indicators of programs – all to ensure that insurance companies can effectively manage operational costs and reduce losses due to fraud.
What makes us an InsurTech:
Alessa offers the following features for insurance companies:
- Claims monitoring and screening: Alessa uses rules-based analytics, fraud models and machine learning to identify potentially fraudulent insurance claims prior to payout.
- Investigation Tools: Alessa offers dynamic workflows to guide processes and investigations. Case management offers a collaborative approach to investigations, compliance, and decision making.
- Risk Scoring: Alessa uses data from various sources, including sanctions lists and past claims, to provide an assessment of the risks with claims or of doing business with an individual, business or practitioner.
- Data Management: Alessa accesses data from many platforms, including ERPs, bespoke applications, and core business systems so insurance companies can improve their business processes with their existing infrastructure.
- Metrics & Insights: Alessa offers configurable dashboards so management can track key metrics including program performance.
To learn more about how Alessa can be used to monitor claims and stop insurance fraud, please visit www.alessa.com/industries/insurance.
Source: Tier1 Financial Solutions
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