Policybazaar Launches AI-Powered ClaimSetu to Simplify Health Insurance Claims
- Policybazaar for Business introduces an AI-powered platform to streamline Group Health Insurance (GHI) reimbursement claims.
- Automates document checks using AI, NLP, and OCR reducing claim processing time by up to 50%.
- Offers real-time updates via WhatsApp, email, app, and is built for integration with HR and insurer systems.
Policybazaar for Business (PBFB), the corporate arm of the online insurance marketplace Policybazaar, has launched ClaimSetu, an AI-powered platform designed to streamline Group Health Insurance (GHI) reimbursement claims. The system leverages cutting-edge technologies such as Artificial Intelligence (AI), Natural Language Processing (NLP), and Optical Character Recognition (OCR) to automate document verification, flag missing paperwork in real time, and provide claimants with insights into the claim process.
Traditionally, GHI reimbursement claims have been delayed due to documentation issues and lack of real-time visibility. ClaimSetu addresses this by automating the review of bills, prescriptions, and discharge summaries, validating them against policy guidelines, and routing claims efficiently based on complexity. According to PBFB, this technology can help employees, HR teams, insurers, and TPAs process claims up to 50% faster with fewer errors.
Claimants can track their application status and receive instant alerts through email, mobile apps, or WhatsApp enhancing transparency and reducing follow-ups. The platform also aids in fraud detection and significantly reduces the administrative burden on HR teams and insurance partners.
“Reimbursement claims remain one of the most tedious processes in group health insurance. With ClaimSetu, we are working on removing ambiguity and delivering real-time updates”, said Sajja Praveen Chowdary, Director at PBFB.
Built in India for Indian enterprises, ClaimSetu offers integration with CRM platforms, HR tools, and insurer back-end systems. Its modular design allows for future expansion into other health insurance claim segments such as OPD.
PBFB's latest innovation marks a major step in digitizing and simplifying corporate health insurance experiences.
