September 26, 2023
By Steve Hallo
Artificial intelligence can help reduce the legal involvement in lost-time workers’ comp claims by as much as 15%, which in turn can reduce costs for these claims by as much as 5%, according to a study of more than 200,000 claims by Gradient AI.
Those savings equate to about $3.5 million, annually, based on the study’s insurers averaging $70 million in lost-time claims. On a per-claim basis, avoiding a lawyer can save $38,000, Gradient reported.
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