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Business Standard
a day ago
- Business
- Business Standard
Star Health partners Medi Assist to launch AI-based claims settlement
Star Health and Allied Insurance Company Ltd has partnered with Medi Assist to offer Artificial Intelligence (AI)-powered claims settlement to its customers, a top official said on Wednesday. Through this partnership, Star Health will adopt MAtrixan advanced AI-powered claims platformwhich will help the city-headquartered company manage rising claim volumes while maintaining speed, consistency, and transparency in its operations. The platform introduces intelligent automation, reduces manual processes, and streamlines workflows, enabling stronger turnaround performance across the network, Star Health and Allied Insurance said in a company statement. Commenting on the partnership, Star Health and Allied Insurance MD and CEO Anand Roy said, "This marks a major step forward in strengthening our in-house claims management capabilities. This partnership is a key milestone in our journey to build a more agile and technology-driven claims ecosystem." "Claims are at the heart of the insurance experience, and with Medi Assist's platform, we are enhancing speed, accuracy, and consistency, while keeping a keen eye on fraud, waste, and abuse," he added. The partnership with Medi Assist will also help Star Health identify and eliminate fraud through AI tools, the company said. One of the key advantages of this partnership for Star Health is the rules and configuration-based engine, which ensures consistent and standardised claims adjudication, thereby reducing subjectivity and improving accuracy. "We are excited to collaborate with Star Health on this transformative journey. This partnership is set to redefine industry standards in technology-driven insurance operations, ensuring an exceptional policyholder experience," Medi Assist CEO Satish Gidugu said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Upturn
a day ago
- Business
- Business Upturn
Star Health Insurance partners with Medi Assist to transform claims process using AI and digital innovation
Shares of Star Health and Allied Insurance may remain in focus on Wednesday, June 25, after the company announced a strategic partnership with Medi Assist to enhance its claims management system through artificial intelligence (AI) and digital tools. In an exchange filing, Star Health said the collaboration will enable the adoption of MAtrix, an AI-powered claims platform developed by Medi Assist. The move is aimed at delivering faster settlements, reducing fraud, and improving customer engagement. Star Health's Managing Director and CEO Anand Roy said the partnership is a milestone in the company's journey towards building a more agile and technology-driven claims ecosystem. 'Claims are at the heart of the insurance experience, and with Medi Assist's platform, we are enhancing speed, accuracy, and consistency, while focusing on fraud prevention,' he added. The new platform introduces intelligent automation, reduces manual intervention, and streamlines workflows. It also enables AI-powered chatbots, virtual assistants, and omnichannel support, including integration with WhatsApp and mobile apps. Additionally, Star Health said the partnership will allow real-time data exchange with stakeholders like hospitals and the National Health Claims Exchange (NHCX) through a unified API architecture. Medi Assist CEO Satish Gidugu said the partnership will set new industry standards for technology-driven insurance operations. Star Health closed FY25 with a gross written premium of Rs 17,553 crore and a net worth of Rs 8,668 crore. The company currently operates over 913 offices and has partnerships with more than 14,000 network hospitals. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash
