MeasureOne is a pioneer in data and analytics, transforming the way consumers can access and share their data with lenders. As the first consumer-permissioned data platform-as-a-service on the market, MeasureOne has the ability to share actionable data in real time and we are looking forward to offering this service to our lenders.
EP. 12 - AI Claims Processing: How it works and key alternatives
Listen to an explanation of how AI and automated systems can enhance personal injury claims processing for law firms, and dig into the importance of easy access to claims history data. Hear how traditional manual methods are more outdated than ever and why to trust newer automated and AI-driven solutions.
Transcript
Speaker 1:
Welcome back to the deep dive. Today, we're gonna be looking at something that I think you'll find pretty interesting. Yeah. It's AI and automation.
Speaker 2:
Mhmm. And how those are really starting to change personal injury claims.
Speaker 1:
Yeah. It's a really interesting area. Especially when it comes to accessing claims history.
Speaker 2:
Yeah. So, you know, we've got some great sources here.
Speaker 1:
Yeah. We've got, you know, some articles. We've got some information from companies that are actually building solutions in this space like MeasureOne.
Speaker 2:
Yeah. And we're even gonna touch on some of the debate about how AI might impact the legal system as a whole.
Speaker 1:
Mhmm. But first, I think it's important to understand, like, why claims history is such a big deal in personal injury cases.
Speaker 2:
Right. Because at first glance, it might seem kinda, you know, dry. It can sound a little bit dry at first.
Speaker 1:
Yep. But it's actually incredibly important. If you think about it, it's really the foundation for building a strong case.
Speaker 2:
Yep.
Speaker 1:
Claims history is all about piecing together what actually happened. So let's say, you know, you're a lawyer and you're representing someone who was injured in a car accident.
Speaker 2:
Okay.
Speaker 1:
You need to know, okay, who is at fault here?
Speaker 2:
Right.
Speaker 1:
How badly was my client injured, and, you know, what damages do they deserve?
Speaker 2:
Right.
Speaker 1:
And then, also, how strong is my case overall? Claims history can help answer all of those questions. So it's kinda like detective work.
Speaker 2:
Exactly. They're looking for clues in the data to try to build the strongest case possible.
Speaker 1:
Yeah. You wanna know things like, does the other driver have a history of accidents?
Speaker 2:
Oh, interesting.
Speaker 1:
Are there any patterns of reckless behavior?
Speaker 2:
Right.
Speaker 1:
Have there been previous claims related to, you know, similar injuries?
Speaker 2:
Interesting. That kind of information can really change the way you approach a case.
Speaker 1:
Yeah. And I imagine it helps avoid surprises later on too.
Speaker 2:
Oh, absolutely. By really digging into the claims history, lawyers can uncover potential red flags.
Speaker 1:
Okay.
Speaker 2:
You know, things like inconsistencies in someone's story or maybe even signs of insurance fraud. Think of it as a way to kind of protect everyone involved from false or exaggerated claims.
Speaker 1:
So it's more impactful than I initially thought.
Speaker 2:
Yeah. Our sources even list specific data points that lawyers are looking for in this claims history.
Speaker 1:
Right.
Speaker 2:
Things like, you know, insurance verification, claims history review, and medical and repair records.
Speaker 1:
Yeah. Sounds like a pretty meticulous checklist.
Speaker 2:
It is. And with good reason.
Speaker 1:
Yeah. Because, you know, any inconsistencies in those medical records could be a really big deal.
Speaker 2:
Yeah. Could signal that an injury is being exaggerated, which could then impact the amount of the settlement. So these aren't just, you know, bureaucratic check marks. These are details that could really make or break a case.
Speaker 1:
Absolutely.
Speaker 2:
Yeah. Having a really thorough understanding of claims history can impact everything.
Speaker 1:
Wow. From the very initial evaluation of a case to, like, the negotiation strategies and potential settlements.
Speaker 2:
Mhmm. It's really essential for making sure that the outcomes are fair and accurate. But I imagine getting all of this information, like, wasn't always this easy.
Speaker 1:
No. Not at all. Yeah. The traditional way of accessing claims history was pretty rough.
Speaker 2:
Right.
Speaker 1:
Okay. I mean, just imagine mountains and mountains of paperwork.
Speaker 2:
Oh, yeah.
Speaker 1:
Endless phone calls.
Speaker 2:
Uh-huh.
Speaker 1:
And weeks, maybe even months of just waiting for information.
Speaker 2:
Right.
Speaker 1:
It was time-consuming. It was prone to human error.
Speaker 2:
Yeah. It was honestly kind of a nightmare.
Speaker 1:
Yeah. So not only was it slow, it could be inaccurate.
Speaker 2:
Exactly. And that's not a good combination when you're dealing with, you know, legal cases in people's lives. That's where technology comes in to save the day.
Speaker 1:
Alright. This is where it gets really interesting.
Speaker 2:
Yeah. So our sources talk about how automated systems have completely changed the game when it comes to accessing this information.
Speaker 1:
Mhmm. Yeah. You don't have to wait weeks anymore. You can actually get what you need in real-time.
Speaker 2:
That's incredible.
Speaker 1:
It's about building a direct pipeline to that information.
Speaker 2:
Wow. Automated systems can cut through all the red tape and connect directly to the data sources.
Speaker 1:
Right. So lawyers can access the information they need whenever they need it. And we've got companies like MeasureOne who are kind of leading the charge in this space. They're providing solutions that are really streamlining this whole process.
Speaker 2:
It's remarkable how it impacts the way law firms operate.
Speaker 1:
Yeah. You know, it frees them from all of those administrative tasks.
Speaker 2:
Alright. And it lets them focus on the things that matter most.
Speaker 1:
Right. Representing their clients and building the strongest cases possible.
Speaker 2:
So automation brings speed, efficiency, and hopefully, a lot less frustration to this whole process, making the whole system smoother, faster, and more accurate.
Speaker 1:
But the real game changer is when you take automation and add the power of AI. Now things get really exciting.
Speaker 2:
Okay. Let's talk about AI.
Speaker 1:
Yeah. So our research shows that AI can do way more than just retrieve data.
Speaker 2:
Absolutely. It can actually analyze that data to find trends, inconsistencies, even potential fraud.
Speaker 1:
Yeah. Think of AI as a super-powered legal assistant that can analyze massive amounts of information and then highlight the most crucial details for you.
Speaker 2:
So it's like having another brain working on your case.
Speaker 1:
It is. Working around the clock, tirelessly, to spot those patterns and connect the dots.
Speaker 2:
So it's almost like AI is giving this data a voice.
Speaker 1:
Yeah. It's helping us see things that we might otherwise miss.
Speaker 2:
Absolutely. And this is all thanks to advancements in machine learning and natural language processing. Things have come a long way.
Speaker 1:
Yeah. AI can actually understand and interpret complex documents now, like medical records.
Speaker 2:
Exactly. Things that used to be a real challenge.
Speaker 1:
That's right. So instead of spending countless hours pouring over documents, lawyers can now let AI kind of do that heavy lifting.
Speaker 2:
That's right.
Speaker 1:
Free up all that valuable time so they can focus on, you know, the big picture—legal strategy, building those relationships with clients.
Speaker 2:
Our sources mentioned some pretty impressive benefits of AI, like faster and more accurate analysis, better fraud detection, and even cost savings.
Speaker 1:
Because they're making the whole system more efficient and more effective.
Speaker 2:
And it can spot those really subtle red flags that a human reviewer might miss.
Speaker 1:
Right. Like, AI can analyze the language used in medical records to identify potential inconsistencies.
Speaker 2:
Yep. It's like a built-in lie detector.
Speaker 1:
Wow. I had no idea AI could do that.
Speaker 2:
Yeah. That's incredible.
Speaker 1:
It's about building a direct pipeline to that information.
Speaker 2:
Wow. Automated systems can cut through all the red tape and connect directly to the data sources.
Speaker 1:
Right. So lawyers can access the information they need whenever they need it. And we've got companies like MeasureOne who are kind of leading the charge in this space. They're providing solutions that are really streamlining this whole process.
Speaker 2:
It's remarkable how it impacts the way law firms operate.
Speaker 1:
Yeah. You know, it frees them from all of those administrative tasks.
Speaker 2:
Alright. And it lets them focus on the things that matter most.
Speaker 1:
Right. Representing their clients and building the strongest cases possible.
Speaker 2:
So automation brings speed, efficiency, and hopefully, a lot less frustration to this whole process, making the whole system smoother, faster, and more accurate.
Speaker 1:
But the real game changer is when you take automation and add the power of AI. Now things get really exciting.
Speaker 2:
Okay. Let's talk about AI.
Speaker 1:
Yeah. So our research shows that AI can do way more than just retrieve data.
Speaker 2:
Absolutely. It can actually analyze that data to find trends, inconsistencies, even potential fraud.
Speaker 1:
Yeah. Think of AI as a super-powered legal assistant that can analyze massive amounts of information and then highlight the most crucial details for you.
Speaker 2:
So it's like having another brain working on your case.
Speaker 1:
It is. Working around the clock, tirelessly, to spot those patterns and connect the dots.
Speaker 2:
So it's almost like AI is giving this data a voice.
Speaker 1:
Yeah. It's helping us see things that we might otherwise miss.
Speaker 2:
Absolutely. And this is all thanks to advancements in machine learning and natural language processing. Things have come a long way.
Speaker 1:
Yeah. AI can actually understand and interpret complex documents now, like medical records.
Speaker 2:
Exactly. Things that used to be a real challenge.
Speaker 1:
That's right. So instead of spending countless hours pouring over documents, lawyers can now let AI kind of do that heavy lifting.
Speaker 2:
That's right.
Speaker 1:
Free up all that valuable time so they can focus on, you know, the big picture—legal strategy, building those relationships with clients.
Speaker 2:
Our sources mentioned some pretty impressive benefits of AI, like faster and more accurate analysis, better fraud detection, and even cost savings.
Speaker 1:
Because they're making the whole system more efficient and more effective.
Speaker 2:
And it can spot those really subtle red flags that a human reviewer might miss.
Speaker 1:
Right. Like, AI can analyze the language used in medical records to identify potential inconsistencies.
Speaker 2:
Yep. It's like a built-in lie detector.
Speaker 1:
Wow. I had no idea AI could do that.
Speaker 2:
Yeah. That's incredible.
Speaker 1:
So we've got automation, which is really streamlining the access to the data.
Speaker 2:
Mhmm.
Speaker 1:
And then we've got AI, which is actually analyzing that data to uncover, you know, these hidden insights.
Speaker 2:
Yeah. But how do they work together?
Speaker 1:
Right. Are they competing forces, or are they more like partners in crime?
Speaker 2:
I would definitely say partners in crime.
Speaker 1:
Okay. They really complement each other perfectly.
Speaker 2:
Okay. Two sides of the same coin working together to create this really powerful solution.
Speaker 1:
Okay. So I'm ready to dive deeper into this dynamic duo.
Speaker 2:
K. Let's look at the unique benefits of each technology and how companies like MeasureOne are really using them to kind of change the legal landscape.
Speaker 1:
Let's do it. So we've got these two powerful forces.
Speaker 2:
Right?
Speaker 1:
Yeah. Automation and AI.
Speaker 2:
Right.
Speaker 1:
And they both bring something different to the table.
Speaker 2:
Mhmm.
Speaker 1:
It's not just about using one or the other. It's really about using them together to get the full benefit. Like, I think of automation as laying the foundation.
Speaker 2:
Okay.
Speaker 1:
It gives you that fast, reliable access to the data.
Speaker 2:
Mhmm. It's like building a superhighway to the information you need.
Speaker 1:
Okay. I love that analogy.
Speaker 2:
Yeah. So automation builds the road, and then AI kinda steps in to help us navigate it.
Speaker 1:
Exactly. AI takes all that raw data, like the claims history, the medical records, the bills, and it turns it into something meaningful.
Speaker 2:
It's like having an army of expert analysts sifting through all the information, looking for patterns and insights that would take humans forever to uncover.
Speaker 1:
So AI is basically giving the data a voice.
Speaker 2:
Yeah. It's helping us understand not just what happened, but why it matters.
Speaker 1:
That's a great way to put it.
Speaker 2:
Yeah. It's about understanding the nuances, the connections that might be hidden within all that data.
Speaker 1:
And our sources highlight some really specific benefits of each technology.
Speaker 2:
Right.
Speaker 1:
So for AI, they mentioned things like faster, more accurate analysis, enhanced fraud detection, and even cost savings, which is huge.
Speaker 2:
Yeah. It seems like AI is just making the entire process more efficient and effective.
Speaker 1:
Absolutely. And don't forget about AI's power to, you know, really spot those subtle red flags that a human might miss.
Speaker 2:
Yeah. For example, AI can analyze the language used in those medical records to identify potential inconsistencies.
Speaker 1:
Wow. It's like a built-in lie detector for legal documents.
Speaker 2:
That's crazy. I never would have thought of that.
Speaker 1:
It's pretty amazing.
Speaker 2:
That's incredible. So what about automation?
Speaker 1:
Yeah. What are some of the key advantages there?
Speaker 2:
I mean, our sources really emphasize real-time access to the data, seamless integration into existing systems, and critically, 100% accuracy.
Speaker 1:
That last point is huge.
Speaker 2:
Oh, it's a game changer.
Speaker 1:
Yeah. Especially in a field where precision is so important.
Speaker 2:
You really can't afford to have mistakes in this kind of stuff.
Speaker 1:
Exactly. But how does this actually impact law firms?
Speaker 2:
Right.
Speaker 1:
I get a very practical sense. How does it change the way they work?
Speaker 2:
It's a fundamental shift.
Speaker 1:
Okay. I mean, law firms can handle more cases.
Speaker 2:
They can operate more efficiently. They can make smarter decisions.
Speaker 1:
Right. It's a win-win for everyone involved, especially their clients.
Speaker 2:
It's almost like AI and automation are kinda leveling the playing field.
Speaker 1:
Yeah. Right? Because you have these smaller firms that maybe couldn't afford these kinds of resources before.
Speaker 2:
Right. Now they can kinda compete with the bigger firms.
Speaker 1:
That's a key point. You know, access to this information, this level of analysis, shouldn't be limited to just the biggest firms.
Speaker 2:
Yeah. AI and automation can really empower law firms of all sizes to deliver better results. And speaking of companies that are doing this really well, our sources keep mentioning MeasureOne.
Speaker 1:
They're doing some great work. They're described as providing AI-assisted document processing along with automated access to claims history and insurance data. It seems like they've really found the sweet spot.
Speaker 2:
Yeah. It sounds like they're really combining these two technologies in an effective way. What's remarkable about MeasureOne is that they've taken these complex technologies and made them accessible, user-friendly for law firms of all sizes.
Speaker 1:
Right. It's not just about the technology itself. It's about creating solutions that actually work in the real world.
Speaker 2:
Exactly. And our sources talk about some of those real-world benefits. Things like streamlined automation, faster decision-making, more accurate outcomes. They're focused on making the entire legal process smoother, more efficient, and more effective.
Speaker 1:
And I think one thing that really stood out to me was this focus on integration. Like, MeasureOne really designs its solutions to fit into the existing workflows of law firms. You don’t want to force them to completely change the way they do things.
Speaker 2:
Right. Nobody wants to overhaul their entire system just to implement new technology.
Speaker 1:
Exactly. So it sounds like they're taking a very practical, user-centered approach.
Speaker 2:
They are, and they’re really committed to accuracy and reliability. They talk about delivering 100% accurate data from both structured and unstructured documents.
Speaker 1:
That level of confidence is absolutely crucial.
Speaker 2:
Right. You really have to be able to trust the information you’re working with.
Speaker 1:
Absolutely. Especially when you’re making decisions that could impact people’s lives.
Speaker 2:
Exactly. Our sources also highlight a feature that lets clients directly upload documents, which further streamlines the whole data collection process.
Speaker 1:
Yeah. Makes it so much easier. It’s just another example of how MeasureOne is really trying to simplify things for their users.
Speaker 2:
And let's not forget their focus on boosting conversion rates. Ultimately, MeasureOne's goal is to help law firms achieve better outcomes for their clients. It's like they’re not just selling software; they’re selling success.
Speaker 1:
That's a great way to put it. It’s clear that AI and automation are really changing the world of personal injury law.
Speaker 2:
Absolutely. But I think this technology raises some bigger questions too.
Speaker 1:
It does, right? It’s not just about efficiency and cost savings. It’s about fairness.
Speaker 2:
Yeah. It’s about access to justice and protecting the integrity of our legal system as a whole. We can’t just focus on the practical applications.
Speaker 1:
We need to consider the wider implications for the legal system itself.
Speaker 2:
Okay. So let’s dive into those bigger questions next.
Speaker 1:
Let’s do it.
Speaker 2:
We’ve been talking about how AI and automation are changing the game in personal injury law. But now I think it’s time to take a step back and look at the bigger picture.
Speaker 1:
Right. Like, what does all of this mean for the legal system itself?
Speaker 2:
It’s a really interesting question. We’re talking about the very foundations of justice and fairness here.
Speaker 1:
Exactly. Because technology this powerful is bound to have some ripple effects.
Speaker 2:
Oh, absolutely. You know, our sources bring up some concerns about AI potentially introducing bias into legal decisions.
Speaker 1:
It’s a valid concern because AI algorithms learn from the data they’re given.
Speaker 2:
Right. And if that data reflects existing biases, then the AI could just end up making those biases worse. So it’s not just a matter of setting it and forgetting it.
Speaker 1:
Right. We really need to be thoughtful about the data that’s being used and monitor these systems to make sure they’re not creating unfair outcomes. Transparency is key.
Speaker 2:
Right. We need to be able to understand how these algorithms work, what data they’re using, and how they’re arriving at their decisions.
Speaker 1:
And another concern that came up in our research was the potential impact on access to justice.
Speaker 2:
Mhmm. Some experts worry that these sophisticated AI tools will become so expensive that only the big firms, the ones with tons of money, will be able to afford them.
Speaker 1:
That’s a real risk.
Speaker 2:
Right. And if that happens, then it could create a two-tiered system where the wealthy have a huge advantage, and people with fewer resources are left behind.
Speaker 1:
And that’s the opposite of what we want. The goal should be to make legal representation more accessible.
Speaker 2:
Absolutely. Not less.
Speaker 1:
We want everyone to have a fair shot at justice. And it’s important to remember that this technology is still evolving.
Speaker 2:
Yeah. It’s early days.
Speaker 1:
Right. We’re just starting to understand what it can do.
Speaker 2:
Right. We’re just scratching the surface. And there’s still so much that we don’t know.
Speaker 1:
Which is why it’s so important to be having these conversations.
Speaker 2:
Yeah. We need to be proactive about shaping the role of AI in the legal system, not just reacting to whatever happens.
Speaker 1:
Right. We have a responsibility to guide this technology in the right direction.
Speaker 2:
Exactly. In a direction that benefits everyone.
Speaker 1:
Yeah. And our sources leave us with a really thought-provoking question.
Speaker 2:
Mhmm. How will the increasing use of AI in law impact our understanding of justice and fairness?
Speaker 1:
That's a big one.
Speaker 2:
It is. It’s a question that I think philosophers and legal scholars will be debating for years to come.
Speaker 1:
It’s a question we all need to consider as we navigate this new landscape.
Speaker 2:
So as we wrap up here, what does all of this mean for you, the listener?
Speaker 1:
You’re living through an incredible time of change and innovation.
Speaker 2:
Right. The legal world is being transformed right in front of our eyes.
Speaker 1:
Yeah. It’s happening so fast.
Speaker 2:
Yeah. And AI is driving that transformation. It’s an exciting time, but also a time for caution and critical thinking.
Speaker 1:
We need to stay informed.
Speaker 2:
Yeah. Stay engaged. Ask tough questions. Don’t be afraid to challenge the status quo.
Speaker 1:
And that’s really what the deep dive is all about.
Speaker 2:
Exactly. Giving you the information and insights, the tools you need to navigate this complex world. Just keep exploring, keep questioning.
Speaker 1:
And keep diving deep.
Speaker 2:
Thanks for joining us.
Speaker 1:
It’s been a pleasure.
Speaker 2:
Until next time.
Speaker 1:
Stay curious.
What is Consumer-Permissioned Data?
Consumer-permissioned data puts the consumer at the center of each and every data transaction. Businesses obtain explicit permission from the consumer to access and use their personal data directly from their primary data source, typically consumer credentialed accounts.
Ready to get started?
Let us show you the value of consumer-permissioned data for your business
MeasureOne has changed the game for degree verifications. Their consumer-permissioned data platform provides our clients’ applicants a user friendly experience; expediting the verification, and delivering accurate results.