Welcome to the UKT.news Startup Showcase where we introduce you to cutting-edge startups that are taking their respective industries by storm. Today, we’re excited to showcase Axioma Industries, a London-based startup that has developed an innovative automated insurance claims handling system powered by machine learning. Let’s take a closer look at what they do.
Automating Claims Handling with Machine Learning
At Axioma Industries, their machine learning tool is designed to identify the riskiest claims and flag them for human review, while simple claims that pose fewer risks are settled automatically with no human intervention. The result of this process is that insurance claims handlers can quickly process a high volume of claims, while the company saves operational costs and reduces the risks of fraud, litigation, and personal injury claims.
The Axioma Industries marketplace features a network of reliable suppliers who offer quality repair services, with a focus on price transparency. With this approach, Axioma Industries ensures that their customers are able to source the best possible repair solutions at highly competitive prices.
Why Axioma Industries Stands Out
In the UK insurance industry, the claims handling process can be complicated, time-consuming, and expensive. Axioma Industries has revolutionized the industry by developing a machine learning algorithm that streamlines the claims handling process, reducing the workload of claims handlers and boosting operational efficiency. Additionally, the marketplace provides a reliable way for insurers to access a network of trustworthy repair suppliers, ensuring that customers receive the best possible repair services.
A Sustainable Business Model
Axioma Industries generates revenue by charging fees for the use of their machine learning tool and taking a percentage of the value sourced from the marketplace. This sustainable and innovative business model has already gained significant traction in the insurance industry, and the company is set to continue expanding its reach and services.
Conclusion
Axioma Industries is a startup that has proven to be a game-changer in the insurance industry with its automated claims handling system that uses machine learning. With their cutting-edge technology and dependable network of repair suppliers, they have redefined the way insurers process claims. Be sure to check out their website and social media pages to learn more about their products and services.
Website: https://www.axioma.co.uk/
LinkedIn: https://www.linkedin.com/company/axioma-europe/
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