POMPTON LAKES, N.J., Jan. 25, 2024 /PRNewswire-PRWeb/ -- ClaimScore LLC, a leader in AI and machine learning-based claim management and anti-fraud solutions for class action settlements, today announced the commercial availability of its proprietary AI-based anti-fraud software solution.
"Our initial launch in early 2023 aimed at providing an efficient, transparent, and cost-effective anti-fraud solution to the class action marketplace," stated Robert Gallo, CEO of ClaimScore. "Our independent, objective solution uses a proprietary scoring system that legitimizes real claims and identifies fraudulent ones. In releasing our closed beta version of the software through early adopter, claims administrator AI Class Solutions (www.aics.legal), we've successfully deployed our software in numerous cases across various state and federal jurisdictions, validating its ability to catch and report claim fraud in real-time. The solution has also been used by one of the leading class action defense firms in a large-scale class action involving significant 'programmatic fraud'. Our automated solution caught and rejected several million fraudulent claims, validating its effectiveness. We are pleased to now announce the commercial availability of our proven anti-fraud solution to the class action marketplace."
ClaimScore utilizes a 20+ point artificial intelligence algorithm, backed by neural network machine learning, and stacked on a robust cloud architecture platform, to review claims within 15 seconds of submission. The results, including a score and deduction codes identifying criteria failed by claimants, are reported immediately to the administrator and counsel through a live interactive dashboard. This allows for real-time detection and reporting of potential fraud as
claim submissions are being made.
AI Class Solutions CEO, Mark Schey, praised the unique solution, noting, "having had the benefit of being the early adopter and using the software over the last year, I can say it is now a must-have for my administration business, and, frankly, is something I believe counsel and the Courts will require in very short order. The independent and objective review of each claim within 15 seconds of submission, the real-time reporting, and the dashboard's ability to customize reports allows me to provide my clients with a level of service, at a minimal cost, that has not previously existed in the market."
Lawyers on both sides of the aisle agree. Scott Bursor of Bursor & Fisher, P.A., a leading plaintiffs' class action attorney, commented: "my firm has recently hired AI Class Solutions for a few cases. Its use of ClaimScore to review claims instantly provides a level of efficiency and transparency that is necessary. I will continue to use this real-time solution in my practice." Christopher Chorba of Gibson Dunn, a go-to class action defense counsel, noted that the detailed analysis provided by the ClaimScore software, and the extensive back-up documentation is "second to none". Chorba added, "I certainly plan on recommending the use of the ClaimScore software in future cases that I handle, as, in my view, it's a must-use tool to both validate legitimate claims and combat fraud in these cases."
Gallo concluded, "ClaimScore is not an administrator; we're a software company that is independent and objective. Our solution makes the settlement and claim process more efficient, transparent, and cost-effective for everyone, while at the same time ensuring that only legitimate claims are passed along for payment." On the heels of its success with the closed beta version, ClaimScore has now created a "plug and play" API that allows lawyers and administrators seamless access to ClaimScore's proprietary AI-based anti-fraud software solution. More information about the software solution can be found at https://claimscore.ai.
About ClaimScore LLC:
ClaimScore LLC is a technology company that offers the first and only tested and validated AI and machine-learning-based anti-fraud software solution for class action settlements. Designed to provide a transparent, efficient, and cost-effective approach to the claims process, ClaimScore's real-time solution stands as the gold standard in the industry.
Media Contact:
Robert Gallo, CEO
[email protected]
Media Contact
Bob Gallo, ClaimScore LLC, 1 (973) 703-0703, [email protected], https://claimscore.ai
SOURCE ClaimScore LLC
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