Galytix, the GenAI platform for the financial sector, has partnered with Foyer Global Health, an international health insurer for expatriates and companies, to implement HealthX, the digital health platform for insurers. The International Private Medical Insurance (IPMI) market relies on data that changes regularly, and HealthX utilizes generative AI to combine structured and unstructured data from various sources. It provides insights, analytics, and alerts that enhance business propositions, customer service, and performance in the health insurance sector.
The services offered by HealthX include portfolio analytics, claims alerts and processing, underwriting and repricing, and risk reporting. Galytix recently went live with its HealthX platform, initially focusing on providing portfolio analytics and automating core claims processes for health risks. The platform allows users to receive claims within seconds, reducing the processing time from days to minutes and improving data quality. This aligns with Foyer Global Health’s long-term strategy of having a standardized data model and consolidated view of health data.
Raj Abrol, CEO of Galytix, highlighted HealthX’s powerful generative AI capabilities and easy interface, referred to as a ‘Health Agent,’ which enables users to understand topics faster, uncover new viewpoints, and get tasks done more easily. The Health Agent acts like an analyst on demand, automating routine work and increasing productivity.
François Jacquemin, CEO of Foyer Global Health, emphasized the platform’s importance in transforming the way they work with health data, providing a “golden source of truth.” The efficiency gains and risk insights generated by leveraging AI are expected to contribute significantly to their business growth.
This collaboration underscores the growing role of AI in the insurance sector, particularly in health insurance, where managing and analyzing vast amounts of data is crucial for making informed decisions and improving operational efficiency.
