logo
AdvanceCare Slashes Claims Processing Times to 60 Seconds Using Sprout.ai's AI Technology

AdvanceCare Slashes Claims Processing Times to 60 Seconds Using Sprout.ai's AI Technology

Yahooa day ago
LONDON, July 22, 2025 /PRNewswire/ -- AdvanceCare has cut health insurance claims processing time to just 60 seconds for some claims settlement cases, thanks to a strategic rollout of Sprout.ai's artificial intelligence technology. As health insurance claims management continues to grow in complexity, AdvanceCare is using AI to streamline and automate its processes and free up team resources to focus on the most complex cases.
The milestone comes after the health insurer TPA (Third-Party Administrator) processed over a million claims in the past year using Sprout.ai's patented AI platform. AdvanceCare was already operating its claims process with automation, but the integration of Sprout.ai's technology has strengthened its capabilities further, contributing to over a 10% increase in automation levels. These advancements span AdvanceCare's different types of claims including hospital, dental, and pharmacy. With 1.7 million members in Portugal the improvements are already delivering faster, more accurate claim outcomes for a significant portion of the population.
This also comes at a time when healthcare leaders are reporting that the time it takes for claims reimbursement is increasing, with 62% recognising this as a growing challenge, up from 51% in 2022. Sprout.ai's platform allows insurers to make faster, more accurate claims decisions by reducing manual data entry and ensuring claims handlers have all the relevant insights at their fingertips. AdvanceCare benefits from utilising Sprout.ai's platform, which combines advanced artificial intelligence with patented optical character recognition (OCR) technology to instantly extract, structure, and analyse information from claims invoices.
Roi Amir, CEO of Sprout.ai, said: "When it comes to health insurance, speed and accuracy are paramount. This collaboration proves that AI doesn't just improve efficiency — it enhances the customer experience at scale. AdvanceCare has shown what's possible when innovation is embraced across an entire claims ecosystem."
The increased accuracy has led to cost and productivity gains, supporting AdvanceCare's mission to strengthen healthcare inclusion and digital transformation in the insurance sector.
Liliana Silva, Operations Director at AdvanceCare, added: "Our customers highly value the digital reimbursement solution that we provide through our app and web portal. Focusing on efficiency also means focusing on time resolution and the quality of service we provide to our customers. This is why we see AI as a useful tool and look for solutions that contribute to this, such as Sprout.ai."
Since partnering in 2022, Sprout.ai's growing footprint within AdvanceCare highlights the accelerating demand in the European insurtech market for solutions that combine intelligent automation with enhanced service quality — empowering experienced claims handlers to dedicate more time to complex cases and those requiring a human touch.
Logo: https://mma.prnewswire.com/media/2735066/Sprout_Logo.jpg
Notes to editors
For more information on Sprout.ai or to request interview time with CEO, Roi Amir, please contact sproutai@transatlanticent.com.
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/advancecare-slashes-claims-processing-times-to-60-seconds-using-sproutais-ai-technology-302509762.html
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

6 Investing Moves That Benefit Millionaires, but Can Hurt the Middle Class
6 Investing Moves That Benefit Millionaires, but Can Hurt the Middle Class

Yahoo

time15 minutes ago

  • Yahoo

6 Investing Moves That Benefit Millionaires, but Can Hurt the Middle Class

For members of the middle class, who only have a moderate amount of money to invest, every move you make counts and can have a big impact on your net worth. Millionaires, on the other hand, often have more room to play with a wider margin of error. Learn More: Read Next: Here, William 'Bill' London, a finance expert and partner at Kimura London & White LLP, explained what kind of moves millionaires can make that the middle class just can't, and how to think of investing. High Capital Investments When millionaires play with money, their investments often have qualities that middle class can't achieve, London said, including 'high capital, long horizons and privileged access to markets.' Millionaires are investing in hedge funds, venture capital or high property syndications that 'are frequently typified by limited accessibility, low liquidity and high levels of risk,' he said. The average middle-class person is lucky to have retirement accounts and maybe a high-yield savings account or money market account. Millionaires can invest big money because they have the financial buffer to incur 'little more than slight hardships instead of severe life-transforming effects, a situation that normally applies to most families holding middle incomes,' London explained. Find Out: Tax-Loss Harvesting Practice in Private Equity Tax-loss harvesting — essentially where investors reduce their taxable income by selling investments that have lost value — is another strategy millionaires use because they have 'substantial taxable investment portfolios and sophisticated tax planning,' London said. For the average person with a 401(k) and limited brokerage activity, the benefits are small and often not worth the complexity. Private equity, in general, is typically reserved for high-income earners because you have to commit large amounts of capital over longer durations, London explained. Millionaires have the kind of liquidity that allows for them to extract big sums of money without suffering to pay for their basic expenses. To a middle-class earner, liquidity might just mean a slim buffer 'to take care of unexpected situations, educational expenses or retirement goals which makes this investment strategy risky and often undesirable,' London said. Financing Through Debt Not only do millionaires have the ability to borrow against investment portfolios or real estate at low interest rates to reinvest or defer taxes, 'They have the liquidity and safety nets to handle downturns,' London said. A middle-class investor just isn't likely to have the financial buffer or willing to take a risk refinancing a home to invest. 'If the market moves in the wrong direction, they may not have the flexibility to recover.' Higher Risk Tolerance In a nutshell, millionaires can absorb losses without major lifestyle changes. 'They are able to take on high-risk, high-reward opportunities with patience and backup plans,' London pointed out. Middle-class investors usually cannot afford that luxury; a major loss could delay retirement or put essential life goals at risk. Using Tax-Friendly Instruments While almost anyone can get some kind of tax benefit for making a charitable contribution, where the benefits really kick in is at a level of money the middle class is unlikely to have. 'The tax benefits that are available for donor-advised funds and other sophisticated trusts are relevant more frequently in situations that involve large charitable gifts or intergenerational transfers of wealth,' London said. For most families, the administration and maintenance costs of setting up such funds and trusts alone would be worth more than their potential savings. Postponing Revenues and Lowering Current Period Profits Most middle-class people live, if not quite paycheck to paycheck, not far ahead of that, with a small emergency fund or buffer, and with every dollar of income counting. Millionaires, on the other hand, can actually delay income to affect their taxes. 'They may delay bonuses, use stock options, or receive investment returns structured to maximize long-term capital gains rates,' London explained. That's a flexibility the average person earning a fixed paycheck simply does not have. Suggestions for the Middle Class So maybe you're not a millionaire — yet. You still can and should continue to invest. London suggested that the best strategy for long-term investment success for middle-income investors is as follows: Building a diversified investment portfolio Participating in frequent contributions Reducing fees Avoiding emotion-driven decisions As compelling as these millionaires' big moves may look at a distance, London warned that it's 'often counterproductive' for the middle class to try to replicate them. 'Time-tested and simple investment methods often provide the most predictable results.' More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on 6 Investing Moves That Benefit Millionaires, but Can Hurt the Middle Class Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Infosys (INFY) Delivers $19,277 million in Revenues in FY 2025
Infosys (INFY) Delivers $19,277 million in Revenues in FY 2025

Yahoo

time15 minutes ago

  • Yahoo

Infosys (INFY) Delivers $19,277 million in Revenues in FY 2025

Infosys Limited (NYSE:INFY) is one of the Best Indian Stocks to Buy for Next 5 Years. In FY 2025, the company delivered $19,277 million in revenues, reflecting a rise of 4.2% in constant currency. Infosys Limited (NYSE:INFY)'s performance for the year remained robust in terms of revenues, expansion in operating margins, and the highest-ever free cash generation. Moving forward, the company's depth in AI, cloud, and digital, and its strength in cost efficiency, automation, and consolidation place it well. A programmer typing on a laptop, highlighting the cutting edge software engineering solutions provided by the company. Infosys Limited (NYSE:INFY) announced the expansion of its collaboration with Siemens AG in a bid to accelerate Siemens AG digital learning initiatives with Gen AI. For FY 2025, Infosys Limited (NYSE:INFY)'s FCF was the highest ever at $4.1 billion, reflecting an increase of 42% YoY. Notably, the FCF as a percentage of net profit for the financial year stood at 129%. The company expects FY 2026 FCF to be more than 100% of net profit. Infosys Limited (NYSE:INFY) highlighted that, because of recent tariff announcements, client budgets are expected to be tightened, while there remains an increased caution. Decision cycles have been getting stretched with respect to discretionary spend and large deals. Throughout the geos, there remains an increased focus on AI, cloud, estate modernization, cost takeout, and investments in core tech capabilities. Headquartered in Bengaluru, India, Infosys Limited (NYSE:INFY) provides consulting, technology, outsourcing, and digital services. While we acknowledge the potential of INFY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Report – Inter Milan & Atalanta In New Talks Earlier Today Over Nigeria Star
Report – Inter Milan & Atalanta In New Talks Earlier Today Over Nigeria Star

Yahoo

time15 minutes ago

  • Yahoo

Report – Inter Milan & Atalanta In New Talks Earlier Today Over Nigeria Star

Inter Milan and Atalanta reportedly reopened discussions over Ademola Lookman earlier this morning. According to Alfredo Pedulla via FCInter1908, the clubs have resumed talks with renewed optimism. Despite Atalanta's firm stance, Ademola Lookman is keen to force his transfer to Inter. Indeed, the player already has an agreement with the Nerazzurri over personal terms. Furthermore, he plans to hold Atalanta to last year's promise and secure a move to San Siro. Inter Milan & Atalanta Renew Talks over Ademola Lookman BERGAMO, ITALY – JANUARY 18: Ademola Lookman of Atalanta BC looks on during the Serie A match between Atalanta BC and SSC Napoli at Gewiss Stadium on January 18, 2025 in Bergamo, Italy. (Photo by) Inter's opening €40 million bid fell short of Atalanta's asking price. Meanwhile, La Dea are holding out for €50m. However, Lookman's desire to join the Nerazzurri could force Atalanta's hand. Negotiations paused for a while, but the clubs met again this morning to discuss terms. Indeed, Inter are growing confident of snatching away the 27-year-old before the end of July. Lookman's will could unlock the deal, with Inter aiming to intensify talks in the coming days. On the other hand, they're working to offload Mehdi Taremi, which would see them collect the necessary funds.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store