If asked to consider what it means to “boost human performance,” the answer most-often given is additive – what new tools or techniques or science will make someone faster and use energy more efficiently? And that is OK. It’s human nature to want more to achieve more. But about 2 years ago, LFI looked at this question and decided that the best way to answer it may be, instead, to ask what could be removed?
When it comes to claims, eliminating redundancy, friction, and errors are the gold standard. Each of those items drive up costs and time to settlement. At that time in the insurance industry, there were no tools, techniques or science that could assist the forensic accountant to, in essence, make them faster and more efficient at their jobs. Now 24 months later, LFI’s answer to the question – Stratis™ – has matured as the industry’s only integrated and technology-focused forensic accounting process that helps insurers get clients back on their feet by quickly and accurately streamlining the quantification of business interruption claims.
We had a chance to sit with LFI President Marc Johnson and SVP Danielle Gardiner to talk about how Stratis helps boost human performance across the board. They discussed the importance of seamlessly pairing the forensic accountant’s experience with technology and how using automation as a process and not just a tool helps manage communication, requests for information, and CAT response.
“Stratis leverages machine learning and built-in algorithms through our partnership with Infinilytics™ to catch red flags and deliver predictive claims insights,” Johnson said. “The Stratis platform integrates technology-enabled processes to manage industry-leading accurate calculations verified by expert forensic accountants, cutting time to settlement and cost in-half. Insurers benefit from automation and efficiencies while being able to offer their clients increased transparency.”
Check out the video below for more. We’re excited to say, that in 2021, Stratis is truly People. Powered.