True Captive Insurance Selects Gradient AI to Provide Deeper Insights, Cost Efficiency for Healthcare Insurance

Driven by the desire to have more control over company insurance plans, health insurance captives, like True Captive, have recently gained in popularity and are experiencing tremendous growth. Through a captive insurance model, employers are able to leverage healthcare coverage at rates that are usually reserved for larger employers.

To gain a better understanding of the data needed to make the best decisions for members, True Captive chose Gradient AI’s SAIL solution as the key technology enabler of its business model. SAIL, Gradient AI’s medical underwriting solution, evaluates group health risk at a deeper level by leveraging a vast medical dataset and machine learning.

One of the key reasons True Captive chose SAIL is due to its unique combination to provide both prescription and medical data to inform its predictions.

According to David Voorhees, founder, and CEO of True Captive, “SAIL offers accurate and deep risk assessments providing access to both prescription and medical data. This enables us to work with our members to reduce their insurance costs. For example, we can identify instances where an expensive drug or treatment may be sourced at a lower cost or perhaps replaced with step therapy as an effective alternative treatment.”

True Captive leverages SAIL to determine group healthcare risk and drill down to the specific drivers behind a group’s risk. This ability to dissect the drivers of risk supports its core strategy of helping employers obtain cost-effective health insurance. With SAIL’s data and analytics capabilities, the company can identify specific cases where healthcare can be delivered in more efficient and cost-effective ways.

Voorhees added “we believe the holy grail of health insurance is delivering quality care at a lower cost and Gradient AI’s SAIL solution is key in helping us reach this goal. It is the most robust group healthcare analytics and data solution on the market requiring little to no human intervention to obtain deep data insights.”

SAIL also enables True Captive and its agent network to build closer relationships with their customers by providing them the intelligence they need to go beyond selling them insurance to becoming trusted advisors.

“We are excited and proud to support True Captive’s mission to make healthcare more affordable while ensuring employees can access a high standard of care,” said Stan Smith, founder, and CEO of Gradient AI.

This article first appeared on Fintech & Finance News.