Latest news with #MAtrix
Time of India
10 hours ago
- Business
- Time of India
Star Health to Outsource Claims Processing to Medi Assist's AI Platform
MUMBAI: In a first for India's largest retail health insurer, Star Health has decided to outsource a significant part of its claims operations to a third-party administrator. The insurer will adopt Medi Assist's AI-driven MAtrix platform to expedite claims processing and enhance fraud detection capabilities. The move is part of Star Health's broader effort to modernize its claims ecosystem. The platform, which uses intelligent automation and real-time data integration, will eventually handle the full volume of Star Health's in-house claims portfolio. According to Medi Assist, the AI tools embedded in MAtrix will help cut down on waste, eliminate manual intervention, and streamline workflows to deliver quicker settlements and better customer experience, the partners said. Anand Roy, MD & CEO, Star Health, said the shift reflects the insurer's intent to build a technology-led, agile claims infrastructure. 'This partnership is a key milestone in our journey to strengthen claims management. By improving speed, accuracy, and consistency, we aim to deliver a transparent and reliable claims service while addressing fraud, waste, and abuse,' he said. Medi Assist CEO Satish Gidugu said the collaboration will modernize claims adjudication and reshape how insurers interact with stakeholders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trading CFD dengan Teknologi dan Kecepatan Lebih Baik IC Markets Mendaftar Undo 'We are redefining industry standards in technology-driven operations,' he said. The MAtrix platform provides Star Health with a rules-based adjudication engine that improves accuracy and consistency. AI co-pilot features support claims teams in making quicker decisions, while machine learning tools enhance fraud detection. The system's integration with Star Health's internal architecture ensures scale, real-time exchange, and compliance with the National Health Claims Exchange framework. The partnership also brings in AI-powered customer engagement tools such as chatbots and virtual assistants, with omnichannel availability via mobile apps and WhatsApp. These upgrades are expected to improve responsiveness and policyholder satisfaction. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
21 hours 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
