In August 2023, the Expion IT team initiated a project to automate the complex underwriting process for prescription cost management. The team, with support from executive leadership, created ExpionIQ Advisor, a tool that uses linear regression, multiple algorithms, and custom-built AI models to automate prescription RFPs.
Two AI developers at Expion developed the application, which has significantly reduced the time required to calculate the numbers needed for an RFP from days to just a few hours. This has allowed employees to verify the work done by the application and make corrections if necessary. With this new tool, the team is better equipped to identify and address any issues that may arise during the prediction process.
The web-based .NET application on the front end of ExpionIQ Advisor allows underwriters and other users to log in and access the system easily. The application compiles all the data, performs final computations, and presents the information in a user-friendly manner, as well as provides a printout for end customers. Overall, the automation of the underwriting process has streamlined operations at Expion and improved efficiency.
