A Touch Of Innovation In Insurance Processing
Transforming the entire cycle of claims with AI and conversational interfaces.
Transforming the entire cycle of claims with AI and conversational interfaces.
Though one of the most critical industry, the insurance sector has been deemed to be the least innovative. Despite experiencing technology disruption, the sector has been a slow adopter of digital transformation and AI. AI application in the insurance industry has mainly been focused on risk evaluation, underwriting, claims management, and customer experience. The major usage of chatbots has been as an Online Agent helping human agents in customer conversion and as 24×7 assistant for customers engaging in direct insurance purchases. However, better usage of AI’s facial recognition capabilities and its ability to track patterns can come in handy for claims analysis and behavioral policy pricing, and will create strategic advantages to early adopters.