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Insurance company Prudential has partnered with Google Cloud to harness the power of MedLM, Google’s AI model designed for healthcare. Prudential is among the first insurers worldwide to implement MedLM, a tool typically used by healthcare providers, to enhance the accuracy and efficiency of medical insurance claim decisions.

The initial rollout of this collaboration will be in Singapore and Malaysia, where MedLM will analyze documents accompanying health insurance claims, such as diagnostic reports, prescriptions, and invoices. MedLM assists human decision-makers by extracting critical information and coding it accurately, significantly reducing the chances of manual data entry errors and expediting the claims process.

Prudential’s pilot tests have already demonstrated impressive results, with the insurer doubling its automation rate for claims processing and improving the accuracy of decision-making. This innovation promises a faster, more reliable claims experience for customers, as Prudential gears up to handle a growing volume of claims.

“Prudential’s early experiments with MedLM highlight the major role generative AI can play in streamlining health insurance claims,” said Arjan Toor, CEO of Health at Prudential. “We’re proud to lead the way in adopting MedLM, helping us enhance operational efficiency and deliver on our mission to be the most trusted health partner for customers in Asia and Africa.”

Over the next few months, Prudential will deploy MedLM to process select claims in Singapore and Malaysia, evaluating its effectiveness compared to traditional methods. Despite AI’s role, a human will remain central to critical decision-making points.

Karan Bajwa, Vice President of Google Cloud Asia Pacific, noted that this partnership reflects a transformative use of AI in both healthcare and insurance, helping Prudential advance in innovation and improve service for its policyholders. “This collaboration exemplifies how our strategic partnership with Prudential can empower its workforce to drive confident decision-making, improve the overall experience for policy holders, and create meaningful innovation in healthcare and finance.”