UK-based insurer The Standard has expanded its collaboration with insurtech company EvolutionIQ to incorporate an AI-powered claims guidance platform across its disability insurance offerings.
This decision follows a successful initial implementation in 2024.
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The partnership allows The Standard’s claims team to use data insights to reduce administrative tasks and speed up decision-making and payments, supporting claimants in focusing on their recovery.
EvolutionIQ co-founder and co-CEO Michael Saltzman said: “The Standard is a growing workplace benefits provider that has made significant investments to ensure their policyholders and claimants receive the very best outcomes along the way. We are proud to be their partner of choice.
“EvolutionIQ’s rich, data-driven guidance allows The Standard’s examiners to focus on claims where their expertise is most required and foster an optimal outcome for all disability claimants.”
The partnership will facilitate payments and the administration of fixed-duration claims to ensure timely benefit disbursement to claimants.
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By GlobalDataAdditionally, the AI platform will offer guidance on each claim and assist in identifying candidates for The Standard’s Workplace Possibilities programme.
It includes the deployment of tools that aggregate medical data, thereby enabling claims experts to make quicker decisions on claims.
The Standard claims vice-president Jeanne Ryan stated: “The Standard is committed to delivering a best-in-class customer experience and we are excited about how this technology amplifies the expertise and empathy of our people as they strive for the best possible outcome for claimants.
“While our claims experts will continue to make all claims decisions, leveraging AI helps us eliminate manual work, focus claims expertise where it is most needed and expedite the claims process.”
In April, The Standard completed the acquisition of Allstate’s employer voluntary benefits business in a $2bn (£1.48bn) deal.
The deal included American Heritage Life Insurance Company, which will eventually operate under The Standard brand.
