Solution Reduces Costs, Enhances Risk Management, Improves Member Experience
Gradient AI, a leading enterprise software provider of artificial intelligence (AI) solutions in the insurance industry announced today that True Captive Insurance, a provider of innovative healthcare solutions for employers of all sizes, has selected its SAIL™ solution to help reduce group healthcare insurance costs while maintaining a high standard of care for member companies.
Driven by the desire to have more control over company insurance plans, health insurance captives, like True Captive, have recently gained in popularity and are experiencing tremendous growth. Through a captive insurance model, employers are able to leverage healthcare coverage at rates that are usually reserved for larger employers.
To gain a better understanding of the data needed to make the best decisions for members, True Captive chose Gradient AI’s SAIL solution as the key technology enabler of its business model. SAIL, Gradient AI’s medical underwriting solution, evaluates group health risk at a deeper level by leveraging a vast medical dataset and machine learning.
One of the key reasons True Captive chose SAIL is due to its unique combination to provide both prescription and medical data to inform its predictions.
According to David Voorhees, founder, and CEO of True Captive, “SAIL offers accurate and deep risk assessments providing access to both prescription and medical data. This enables us to work with our members to reduce their insurance costs. For example, we can identify instances where an expensive drug or treatment may be sourced at a lower cost or perhaps replaced with step therapy as an effective alternative treatment.”
True Captive leverages SAIL to determine group healthcare risk and drill down to the specific drivers behind a group’s risk. This ability to dissect the drivers of risk supports its core strategy of helping employers obtain cost-effective health insurance. With SAIL’s data and analytics capabilities, the company can identify specific cases where healthcare can be delivered in more efficient and cost-effective ways.
Voorhees added “we believe the holy grail of health insurance is delivering quality care at a lower cost and Gradient AI’s SAIL solution is key in helping us reach this goal. It is the most robust group healthcare analytics and data solution on the market requiring little to no human intervention to obtain deep data insights.”
SAIL also enables True Captive and its agent network to build closer relationships with their customers by providing them the intelligence they need to go beyond selling them insurance to becoming trusted advisors.
“We are excited and proud to support True Captive’s mission to make healthcare more affordable while ensuring employees can access a high standard of care,” said Stan Smith, founder, and CEO of Gradient AI.
About Gradient AI:
Gradient AI is a leading provider of proven artificial intelligence (AI) solutions for the insurance industry. Its solutions improve loss ratios and profitability by predicting underwriting and claim risks with greater accuracy, as well as reducing quote turnaround times and claim expenses through intelligent automation. Unlike other solutions that use a limited claims and underwriting dataset, Gradient’s software-as-a-service (SaaS) platform leverages a vast dataset comprised of tens of millions of policies and claims. It also incorporates numerous other features including economic, health, geographic, and demographic information. Customers include some of the most recognized insurance carriers, MGAs, TPAs, risk pools, PEOs, and large self-insureds across all major lines of insurance. By using Gradient AI’s solutions, insurers of all types achieve a better return on risk. To learn more about Gradient, please visit https://www.gradientai.com.
About True Captive Insurance:
True Captive Insurance is a medical stop-loss captive for employer groups. True Captive makes a financial investment in each of its member groups through their True Funded™ captive program and takes a white-glove approach to health plan management and the member experience. True Captive Insurance’s program offers long-term stability and control over employee health plan expenses for employer groups of all sizes. True Captive believes in healthcare that is personal and insurance that isn’t complicated. For more information, visit https://www.truecaptive.com.