AI-Driven Claims Decisions: The New Normal
How are insurers using AI in processing claims?
Ketaki Joshi
Surviving the Digital Reinvention in Insurance: InsurTechs to the Rescue
For an industry usually perceived as slow in adopting digital technologies, the
insurance industry has attempted to keep abreast of technology driven fast-paced
innovations in the recent years. Technology is a dramatically evolving industry,
and digital advancement in the field of insurance is accelerating. New
technologies in insurance have enhanced
AI-enabling the insurance value chain
Introduction: Bigger Opportunities
Machine learning and Artificial intelligence provide immense opportunities for the insurers who adopt these technologies effectively. These technologies essentially have the capability to transform various areas such as claims, customer service, marketing, underwriting, Straight-through processing (STP) and Fraud detection.
The adoption of AI-enabled services has grown exponentially
AI and customer experience – what’s the connection?
It is fair to say that the insurance industry has lagged in innovating and improving on customer service, experience, and satisfaction; the digital customer finds the experience justifiably frustrating. Customers are disappointed and dissatisfied after interacting with insurance agents due to delayed responses, unsatisfactory answers, or poor service to queries.
Innovation Beyond Analytics And Big Data: What’s Next?
In the global economy today, companies create and capture information in trillions of bytes from internal operations, transactions with customers, and suppliers. Networked sensor devices, often called the Internet of Things, like smart meters, smartphones, automobiles, machines, computer sense, create, and transfer unimaginably vast amounts of information. Humans too are