NAIROBI, Kenya, April 8 – M-Tiba, a health insurance tech platform, has integrated artificial intelligence (AI) into its system, reducing insurance claim approval time to less than 12 hours.
Shadrack Kiratu, Head of Pricing and Portfolio Management at M-Tiba, agreed that the implementation of machine learning (ML) models and AI technology will enhance efficiency and fraud management, which will lower administrative and healthcare costs for health insurers.
The AI-incorporated technology platform will also allow health insurers to offer more affordable health insurance products to their customers.
“The AI solution is seamlessly integrated into our claims assessment process. This new system enables us to expedite claims reviews significantly,” said Shadrack Kiratu, Head of Pricing and Portfolio Management.
“This innovative technology, developed and tested over the past three years, complements our existing systems, automating claim approvals without requiring manual review for each submission,” he added.
The AI technology swiftly approves claims upon submission, allowing claim assessors to concentrate on more complex evaluations.
The tech platform, which adopted AI three months ago, has been using the technology to automatically assess claims for health insurers, facilitating faster payments to providers and improving their cash flow.
“Previously, manual claim reviews prolonged the approval process as traditional technologies are not scalable,” Kiratu.
“With AI technology we can automate claims assessment at a scale, enabling our insurance clients to grow faster and our team to focus on more complex claims requiring additional expertise.”
According to the Insurance Industry Market Report 2022 by the Association of Kenya Insurers (AKI), the industry has witnessed an increase in claims frequency in recent years by adopting AI for claim processing.
Regulations require insurers to admit or deny liability, determine amounts, identify claimants, and make payments within 90 days.
