TL;DR:
- ClaimScore LLC announces the commercial availability of its AI-based anti-fraud software for class action settlements.
- CEO Robert Gallo highlights the system’s efficiency and effectiveness in detecting fraudulent claims.
- The software employs a 20+ point AI algorithm and neural network machine learning, providing results within 15 seconds.
- Positive feedback from early adopter AI Class Solutions and prominent lawyers underscores its impact on the industry.
- A “plug and play” API is introduced, offering seamless access to the software.
Main AI News:
ClaimScore LLC, a trailblazer in the realm of AI and machine learning-driven claim management and anti-fraud solutions tailored for class action settlements, proudly announces the commercial availability of its groundbreaking AI-powered anti-fraud software solution. This innovative offering represents a pivotal development in the landscape of class action litigation.
The journey began with our initial launch in early 2023, with a singular mission: to deliver an efficient, transparent, and cost-effective anti-fraud solution to the class action marketplace. As elucidated by Robert Gallo, the astute CEO of ClaimScore, “Our independent and objective solution is underpinned by a proprietary scoring system that serves as the bedrock for distinguishing bona fide claims from fraudulent ones.”
In a significant stride towards validating the effectiveness of our software, we joined forces with AI Class Solutions (www.aics.legal) as an early adopter to pilot our closed beta version. This collaboration has been instrumental in deploying our software across a myriad of cases, spanning state and federal jurisdictions. The results have been nothing short of remarkable, with our automated solution efficiently identifying and reporting instances of claim fraud in real-time. In a notable case involving ‘programmatic fraud,’ one of the leading class action defense firms utilized our solution, successfully thwarting several million fraudulent claims. This resounding success paves the way for our proud declaration of the commercial availability of our proven anti-fraud solution to the class action marketplace.
At the core of ClaimScore’s offering lies a sophisticated 20+ point artificial intelligence algorithm, harnessed by the formidable power of neural network machine learning, all ingeniously built upon a robust cloud architecture platform. Notably, our software can review claims within a mere 15 seconds of submission. The outcomes, including a comprehensive score and deduction codes that pinpoint the criteria failed by claimants, are promptly relayed to administrators and counsel via an interactive live dashboard. This seamless integration enables the real-time detection and reporting of potential fraud precisely when claim submissions are in progress.
Mark Schey, CEO of AI Class Solutions, extolled the virtues of our unique solution, affirming, “As an early adopter who has had the privilege of using the software over the past year, I can unequivocally state that it has become an indispensable asset for my administration business. It is my firm belief that counsel and the Courts will soon mandate its adoption. The independent and objective evaluation of each claim within 15 seconds, coupled with real-time reporting and customizable reporting capabilities, empowers me to deliver a level of service that previously eluded the market, all at minimal cost.“
Resonating with this sentiment, lawyers representing both sides of the legal spectrum concur on the transformative impact of our solution. Scott Bursor, an esteemed plaintiffs’ class action attorney at Bursor & Fisher, P.A., commended the use of ClaimScore for its instantaneous claim review capabilities, emphasizing its role in enhancing efficiency and transparency. Christopher Chorba of Gibson Dunn, a distinguished class action defense counsel, lauded the detailed analysis provided by the ClaimScore software and the comprehensive supporting documentation, deeming it “second to none.” Chorba further pledged his intention to advocate for the software’s use in future cases.
In Robert Gallo’s closing words, “ClaimScore stands as a testament to our commitment to revolutionize the settlement and claim process. We are not administrators; we are a software company that champions independence and objectivity. Our solution is poised to make this intricate process more efficient, transparent, and cost-effective, all while safeguarding the integrity of legitimate claims.” Building on the triumph of our closed beta version, ClaimScore introduces a “plug and play” API, ushering in a new era of seamless access for lawyers and administrators to our proprietary AI-based anti-fraud software solution. It’s a paradigm shift that promises to redefine class action litigation.
Conclusion:
ClaimScore’s AI-driven anti-fraud software represents a significant advancement in the class action marketplace. Its real-time detection capabilities and efficiency in distinguishing legitimate claims from fraudulent ones are set to redefine how class action litigation is conducted, increasing transparency and cost-effectiveness while safeguarding the integrity of claims. This innovation is poised to become a crucial tool for lawyers and administrators in this field.
