New Health Insurance Technological Innovations: Making Claims Processing and Data Handling More Efficiently

New Health Insurance Technological Innovations: Making Claims Processing and Data Handling More Efficiently

Vishnupriya S Devarajulu

Priyadevaraj.net@gmail.com

Abstract:

Health insurance technology has been influential and transformative in the ways claim handling and data administration processes are designed. Just as the pressure for increased efficiency and reduced costs continues to rise, new technologies such as blockchain, AI, ML, and RPA have optimized workflows and enhanced data security measures. The paper identifies some of the most important trends in health insurance that will implicate areas of effectiveness and what barriers need to be overcome for successful implementation.

Conclusion

Advancements in health insurance technology are fast-changing the claim and data management processes for an insurer. With varied technologies such as blockchain's architecture that has a secure and decentralized-based model or AI and RPA, the operation that is witnessed today is more efficient, wherein more decreased fraud rates are seen, and customer experience management is enhanced. On the other hand, there are barriers from data privacy to consumers' trust areas that technology adoption has to address itself. These technologies will play a significant role in charting the future of the health insurance sector, as this sector continues to evolve.

References

1.       Jones, M. (2022). The role of AI in improving insurance operations. Journal of Health Insurance Technology, 34(2), 115-130.

2.       Smith, A., & Taylor, R. (2021). Cloud computing and big data in health insurance. Journal of Insurance Data Science, 23(4), 297-312.

3.       Wu, P., & Xu, Y. (2020). Machine learning models for fraud detection in health insurance. IEEE Transactions on Healthcare Informatics, 12(3), 245-258.

4.       Deloitte. (2022). Robotic Process Automation in Insurance. Deloitte Insights Report.

5.       Zheng, L., et al. (2021). Blockchain applications in insurance: A systematic review. International Journal of Blockchain Research, 15(1), 50-67.

6.       Brown, K., et al. (2020). Cost-saving strategies in health insurance through AI and RPA. Insurance Technology Review, 19(3), 89-104.

7.       Liu, F., et al. (2021). Blockchain and data privacy regulations: A review. Journal of Law and Technology, 42(1), 12-28.