GigaForce Launches Blockchain Subrogation Platform
SUNNYVALE, Calif., March 26, 2021 (GLOBE NEWSWIRE) — GigaForce is happy to announce the launch of a patent-pending, blockchain-optimized, claims platform designed to expedite subrogation, restoration, and salvage processing for insurance coverage ecosystems.
Based mostly in Silicon Valley, Gigaforce combines heterogenous information, synthetic intelligence (AI)-driven predictive fashions, specialised business experience, and customised providers to attach events throughout the subrogation course of. Gigaforce effortlessly integrates all information, paperwork, and processes related to the subrogation course of right into a single platform for elevated entry, improved effectivity, and diminished cycle time.
“There are potential hazards all around the conventional subrogation course of as a result of a number of events and handoffs of knowledge and cash concerned,” mentioned Sanjeev Chaudhry, CEO of GigaForce. “By introducing blockchain into the method we’ve got heightened the transparency and visibility obtainable to clients and companions and made sure that information safety is paramount. The Gigaforce platform not solely facilitates sensible contract execution with full visibility, but additionally offers a single supply of fact for subrogation course of stakeholders who usually have little visibility into the whole lot of a declare.”
By creating digital workflows that are inherently safe and cellular and introducing machine studying (ML) automation into doc redaction, the SaaS-based Gigaforce platform quickly improves enterprise effectivity and assures the integrity of protected well being info (PHI) and personally-identifiable info (PII). Utilizing blockchain, Gigaforce is delivering a next-generation subrogation resolution which unifies claims motion throughout a number of core and homegrown programs with result-driven analytics and dashboards which give the 360-degree visibility needed for fast recoveries.
“DLT and blockchain-based initiatives are shifting from experiment to stay transactions,” wrote Juan Mazzini, senior analyst for Celent within the introduction to his recent report “DLT and Blockchain in Action in Insurance.” “There may be worth on this expertise and insurers want to seek out the precise use instances.”
Already in use with insurance coverage organizations, legislation corporations, and third-party adjusters (TPAs), moreover necessary performance within the GigaForce platform consists of robotic course of automation (RPA)-driven claims extraction and submission of arbitration which allows result-driven decisioning. The Gigaforce platform could be quickly applied and customised for important enhancements within the subrogation course of.
Gigaforce Inc. is an InsurTech supplier of a SaaS-based, blockchain-optimized, claims platform which mixes synthetic intelligence (AI)-driven predictive fashions, specialised experience, and customised providers to expedite subrogation, restoration, and salvage processing for insurance coverage ecosystems, together with insurers, legislation corporations, and third-party adjusters (TPAs). For extra info, please go to www.gigaforce.io.
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