Foyer Global Health to collaborate with Galytix on GenAI digital health platform ‘HealthX’
Galytix, the GenAI
platform for the financial sector, and Foyer Global Health, the international health
insurer for expatriates and companies, today announced a collaboration to
implement HealthX, the digital health platform for insurers.
The International Private Medical
Insurance (IPMI) market is built on data that changes significantly on a
regular basis. HealthX uses generative AI to combine structured and
unstructured data from multiple sources to produce insights, analytics and
alerts that enhance business propositions, customer service, and performance.
The range of services offered by HealthX will include portfolio analytics,
claims alerts and processing, underwriting and repricing, and risk
reporting.
Galytix recently went live with its
HealthX platform with an initial focus on providing portfolio analytics and
automating core claims processes for health risks. HealthX allows users to
score claims within seconds, removing the need for an individual to read
through each claim and make that decision. The choice of this solution is part
of Foyer Global Health’s long-term strategy of having a standardised data model
and consolidated view on health data. The implementation with Foyer Global
Health is delivering decisions at a quicker pace and reducing the amount of
time spent on gathering and processing data from days to a few minutes. It is
not only freeing up staff to focus on business growth, but also significantly
improving the processing times and data quality.
“HealthX’s powerful generative AI
capabilites and easy interface, which take the form of a ‘Health Agent’, enable
users to understand a topic faster, uncover new viewpoints and health insights,
and get things done more easily,” said Raj Abrol, CEO, Galytix. “Let’s take a
question like ‘what are the high-risk claims?’ Normally, a user might break
this question into smaller ones, sort through the vast information available,
and start to piece things together. With Health Agent, users can get an answer
by simply asking the question in plain English. It’s like having an analyst on
demand that automates routine work and increases productivity.”
“It’s difficult to imagine the
sheer volume of data generated by health insurance policies, especially
considering the various formats we receive it in,” said François Jacquemin,
CEO, Foyer Global Health. “This platform is fundamental to our growth as a business
and will transform the way we work with health data by providing us a ‘golden
source of truth’. We’re excited by the efficiency gains and risk insights we
are already generating by leveraging AI at this early stage.”
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