Insurance
❯
Manage claims
❯From Weeks Down to Hours: How insurers innovate with AI to shorten claims processing time and improve customer experience
Detection of fraudulent medical claims
For:
TPA, medical insurance companies
Scope:
Build an ML model to classify if a particular claim can be fraudulent.
Goal:
Anticipate Risks
AI solution for car damage classification
For:
Insurance companies, car owners/users
Scope:
Car damage classification for common damage types such as bumper dent, door
dent, glass shatter, head lamp broken, tail lamp broken, scratch and smash.
Goal:
Automate a Business Process
From Weeks Down to Hours: How insurers innovate with AI to shorten claims processing time and improve customer experience
For:
- Claims Management
- Customer Experience.
Goal:
Improved Customer Experience
From Weeks Down to Hours: How insurers innovate with AI to shorten claims processing time and improve customer experience
For:
- Claims Management
- Customer Experience.
Goal:
Improved Customer ExperienceProblem addressed
With the need to process millions of insurance claims per year, the insurer was using a time-consuming manual process with a high risk of human error. In addition to solving these problems, they sought to improve customer experience with a quicker claims processing time.
Description
Infogain developed an Intelligent Recommendation Engine (AI/ML) that automates estimation. It also uses computer vision to recognise objects in the uploaded images and suggests automotive parts. This step helped to reduce the time required to estimate the claims cost.
Outcome
As a result, there were notable cost and time savings achieved in manually creating these estimates. There was also lower risk due to a reduction in human error and an improvement in customer experience thanks to a quicker claims process.
Sensor Network - IOT
Raw Data
AI: Perceive
Machine Learning
AI: Understand
Automate Process
AI: Act