Georgia Bankers Association Insurance Trust, Inc. (GBAIT), a provider of cost-effective and high-quality insurance plans and employee benefits and Life2, Inc., an innovator in outcome analytics and data services, announced today their health insurance collaboration. The initiative features large scale data utilization, predictive analytics, artificial intelligence (AI), machine learning and innovative workflow solutions to improve insurance plan outcomes and lower costs for GBAIT and its members.
Joe Brannen, President and CEO of the Georgia Bankers Association, said: “The GBA Insurance Trust has provided our members and their families premier services for more than five decades by consistently investing in the best people, processes and technologies. Our collaboration with Life2 is exciting because it puts our data to work by using cutting edge AI and machine learning. The goal is to help members and care teams predict and get ahead of possible health problems. When our members are healthier, there are fewer unplanned doctor or hospital visits and less need to file insurance claims.”
The Life2 Claustrum AI™ Platform takes data from a variety of sources such as consumer information, claims, pharmacies, case management and wellness programs, analyzes it and provides real-time, actionable information. The details and risk predictions can be used by those covered, their doctors and other care providers to provide proactive treatment and wellness plans that may lead to better health and lower costs for everyone.
GBAIT is internally branding the new service as Altum, and it will be administered by Paragon Benefits, Inc., GBAIT’s wholly-owned third party administrator. In addition to serving GBAIT, Paragon Benefits provides expertise in designing and managing self-funded health insurance plans for other clients.
Richard Egan, President and CEO of Life2 said: “Paragon’s innovative workflow approach and commitment to data analysis to improve outcomes is a perfect match for our platform. The prescriptive insights we create cover the full range of health categories including diseases of the circulatory, respiratory, digestive, musculoskeletal and genitourinary systems. This information can help reduce hospitalizations, medical, dental and pharmaceutical claims. All aspects of Paragon’s services, including plan design, case management and stop/loss management, benefit from taking early, proactive action against future risk and cost events. Above all, GBAIT members benefit via better outcomes and cost savings.”
"Our collaboration with Life2 is exciting because it puts our data to work by using cutting edge AI and machine learning. The goal is to help members and care teams predict and get ahead of possible health problems."