EXL announced the launch of its EXL Insurance LLM on September 26, 2024, an industry-specific Large Language Model designed to support critical claims and underwriting tasks. This model is the first of its kind to address the specialized needs of the insurance industry, which has faced challenges with generic LLMs lacking fine-tuning on private insurance data.
The EXL Insurance LLM was developed by EXL AI Labs using the full-stack NVIDIA AI platform, including the NVIDIA NeMo™ end-to-end platform for training, customization, and deployment. Internal studies showed the EXL Insurance LLM achieved a 30% improvement in accuracy on insurance tasks compared to top pre-trained models like OpenAI GPT4, Claude, and Gemini.
Furthermore, the specialized LLM offers 30% lower costs than generic LLMs while ensuring full regulatory compliance. Its capabilities include claims reconciliation, data extraction and interpretation, question-answering, anomaly detection, and chronology summarization, positioning EXL to deliver enhanced efficiency and accuracy for its insurance clients.
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