AI Platform Brings Business Interruption Claims Up to Date
MDD has created an AI platform to modernize the way business interruption claims are handled. The solution focuses on low-value, high-volume claims that insurers often have to review by hand. The platform cuts down on repetitive administrative tasks in non-manufacturing cases by automating the extraction of financial data.
The system looks at documents that have been sent in and organizes the relevant accounting figures into standard measurement outputs. This organized way of doing things helps insurers find losses faster while keeping the way they evaluate losses the same. Because of this, carriers can handle claims more quickly without losing depth of analysis or oversight.
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Automation Gets Rid of Manual Workflow Bottlenecks
When you make a traditional business interruption claim, you often have to spend a lot of time going over spreadsheets and checking documents over and over again. MDDi replaces a lot of these manual tasks with tools for automated extraction and smart categorization. This change cuts down on delays caused by mistakes made by people and documents that don’t always follow the same format.
Automation also makes things more clear by clearly showing how financial conclusions are reached and shown. Insurers get clearer audit trails that show how each claim amount was calculated. This level of clarity helps meet internal governance needs and boosts the confidence of the underwriting and finance teams.
Insights from Real Time Data Make Things More Clear
Once uploaded claim documents are processed by MDDi’s engine, it gives measurement outputs almost instantly. This ability to work in real time lets insurance companies quickly respond to policyholders who want updates. Businesses that are affected by financial problems can feel less uncertain when they get insights more quickly.
The platform also has a clear cost structure that keeps unexpected adjustment costs to a minimum. When workflows are standardized, it’s easier to guess how much it will cost to process claims that happen over and over again. This predictability makes it easier for insurers with large-scale interruption portfolios to plan their finances.
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Hybrid Model Blends AI With Expert Accountants
MDDi includes direct access to forensic accounting professionals, even though automation drives the main process. If a claim is complicated or disputed, it can be sent up for more in-depth financial analysis and interpretation. This hybrid structure strikes a balance between using technology efficiently and using human judgment when it’s needed.
Expert oversight makes sure that unusual loss situations are evaluated in the right context. When automated outputs need more explanation, forensic specialists can check their assumptions and improve their calculations. This partnership helps people come to defensible conclusions in claims environments that are sensitive or have a lot of exposure.
Supporting Scalable Growth Across Insurance Markets
Because the number of claims changes, insurance companies need systems that can quickly scale up or down without causing problems. MDDi is built to handle spikes in submissions without affecting the consistency of the analysis. The technology helps with bigger digital transformation projects in the property and casualty insurance sectors.
The platform makes it easier for regional offices to report in a more consistent way by centralizing the interpretation of data. This consistency makes it easier for businesses to keep an eye on things and manage their portfolios. As a result, insurers can better align operational performance with long-term growth goals.
Davies Vision 2030 Technology Strategy Part
The launch fits in with Davies’ larger Vision 2030 plan. The company plans to put more money into AI and digital infrastructure as part of this roadmap. MDDi is a real step toward bringing claims management up to date in markets all over the world.
The goal of strategic technology investment is to make service delivery models smarter and more efficient. Davies strengthens its competitive position by adding automation to its specialist services. The project shows a long-term commitment to insurance solutions that are based on new ideas.
Acquisition Improves Forensic and AI Skills
Davies bought MDD in 2024 to grow its network of specialized professional services. The acquisition added to the knowledge of forensic accounting in the larger insurance technology ecosystem. MDDi builds on that by adding advanced analytics to everyday tasks.
By combining forensic knowledge with artificial intelligence, you can offer a unique service. Insurance companies benefit from both thorough financial analysis and automated systems that can grow with them. This integrated model puts the company at the front of the line for new claims technology solutions.
