Australia’s leading law firm Maurice Blackburn Lawyers has rolled out an AI-infused solution that cuts the time taken to assess a superannuation disability insurance claim from months down to minutes. Developed by Microsoft partner, Arinco, the system saves time and improving customer experience.
The solution also helps free up the lawyers’ time who would otherwise have their time taken up with combing through insurance policy fine print.
With the law firm’s “no win, no fee” proposition, it’s imperative that the initial triage of claims is fast, inexpensive and accurate.
Maurice Blackburn’s General Manager Digital & Technology, Greg Emsley calls this a significant breakthrough for the law firm.
Solution developed using Azure Cognitive Search
Microsoft’s news update stated, “A ground-breaking solution developed using Azure Cognitive Search and Services uses AI to review life insurance policies to assess rapidly whether a claim has merit and should be pursued”.
Arinco deployed Microsoft Azure Cognitive Services to develop the AI-infused solution which in turn uses Azure Forms Recogniser to accelerate business processes through automating information extraction.
One Solution, Many Industries
Microsoft noted the solution could be replicated across multiple industry sectors.
Although the current solution was specifically developed to support insurance claims triage, the underlying framework with AI and machine learning could be applied across multiple sectors with bespoke solutions to meet specific requirements.
CTO of Microsoft Australia, Lee Hickin says “Cloud, data and AI are the trinity that deliver immense value to businesses in every sector.
ITVibes Insights:
Microsoft is one of the few technology leaders enjoying growth despite challenging economic times. Microsoft Teams has taken off spectacularly amid the pandemic – reportedly with about 75 million daily active users on Teams.
The tech giant has also been bolstering its Azure value proposition with Metaswitch Networks and Acclaimed Networks acquisitions.
As the low-code movement gains strength, Microsoft has quietly strengthened its low-code position with the Softmotive acquisition making its move into RPA.
Earlier this year, Microsoft deployed an AI-powered solution potentially shielding hospital staff from COVID-19 infections. The solution leverages Microsoft Azure, Azure Cognitive Services, Power BI, IoT Edge and Azure Bot Service.
IDC recently forecast a strong growth of over 12% for the artificial intelligence market despite challenging circumstances.
Worldwide revenues for the artificial intelligence (AI) market, including software, hardware, and services, are expected to increase by 12.3% to a total of about $156.5 billion in 2020.
Together with its suite of collaboration products, cloud, AI and data solutions, Microsoft aims to be the platform of choice for the digital world.
More to come
