Entrepreneur. Problem solver. Innovator. Physicist. Business owner. Stanford grad. These are just some of the terms that can be used to describe Justin Lewis-Weber. But today, perhaps the most fitting title for the young businessman is insurance claims automation champion'.
As CEO and co-founder of Assured, Lewis-Weber is using his tech-savvy brain to transform the insurance claims process by reimagining first notice of loss (FNOL) alongside fellow Stanford grad, Theo Patt.
Assured's white-label digital FNOL point solution uses artificial intelligence (AI) to address common pain points in FNOL - namely, unstructured data, inaccuracies, inefficiency, and poor customer service.
"Claims automation is really the Holy Grail of insurance," said Lewis-Weber. "Fundamentally, it works on the three most important metrics that insurance companies care about: retention, expenses, and loss ratio. If we can solve the common pain points in claims through automation, then we can improve all three metrics dramatically."
