Discover how AI in insurance helps companies run more efficiently and provide better service to customers.
Insurance businesses adopt several measures to increase their market size and attract new customers. One consideration that prospective clients often have when selecting an insurance provider is the claim-settlement ratio. However, by leveraging AI in insurance processes, settling claims can become easier...
In today’s rapidly changing economy, many insurance carriers are focused on investing in technology to keep up with shifting customer demands. One of the key factors driving technological innovation is the desire to refine and improve the claims process. Many leading insurance firms are turning to...
The black-box characteristic of AI systems, especially generative AI, renders the decision process of AI algorithms hard to understand. Crucially, the insurance sector is a financially regulated industry where the transparency, explainability and auditability of algorithms is of key importance to the re...
The conversational AI applied to the insurance sector, paradoxically, reveals a more human side with multiple advantages that we will tell you about right away: 1. Agility in Procedures The conversational AI can reduce response time by up to 80%.This equates to faster customer service and a ...
Inspection use case Within the Commercial sector insurance companies carry out inspections to validate their underwriting decisions based on the exposures presented by that risk; pre-cover, post- inception or line-in with the renewal cycle. This enables them to identify any existing or potential ...
AI is set to disrupt almost every industry and the life insurance sector is no different. The technology be used for the likes of customer assistance chatbots, assessing needs and offering relevant guidance. AI can also be used to diagnose and assess health conditions and analyse client data ...
According to CGI’s 2023 Voice of Our Clients (VOC) research, AI is the top cited innovation investment over the next three years for executives in both theproperty and casualtyandlife and pensioninsurance sectors. It’s clear that responsibly implementing AI has become a strategic imperative ...
According to IDC, the banking sector will be one of the top industries that invest in AI solutions by 2024. And rightly so, with artificial solutions expected to add more than U.S. $1 billion in value to the banking industry by 20359. The impact of AI in the accounting industry AI ...
right where they work. We strive to support their work and boost their productivity with a variety of powerful use cases encompassing all areas of the insurance sector, ranging from policy management to risk analysis to compliance. In addition to prebuilt apps that span a wide range of popular...