Prudential and Google Cloud Launch World-First Partnership to Use Generative AI to Streamline Health Insurance Claims Processing

Prudential and Google Cloud have launched a world-first collaboration to apply Google's MedLM family of foundation models, fine-tuned for healthcare scenarios, in the medical insurance claims process. Starting with Singapore and Malaysia, the two parties will use MedLM to extract and encode information from claims-related medical documents to support claims review decisions. Initial proof-of-concept testing showed that this application can double the automation rate of claims review while improving the accuracy of claims decisions.