Five High Impact Use Cases for Using AI in the Insurance Industry

Artificial intelligence has been tapped by insurers to ramp up customer experience and accelerate the speed of decision-making. Customer Conversations When call centres were shut down during the pandemic, our AI-driven chatbot came to the fore. Not only did customers feel the same level of comfort that they did while interacting with call centre executives, as evidenced by the overnight spike in servicing via this medium, accompanied by a 90% dip in grievances, but the AI-driven chatbot went beyond the shift in plane from person-driven servicing to bot-driven servicing to include conversations in languages beyond English. More importantly, the servicing was not restricted to a few niche cases, but the most sought-after array of services that were offered by insurers via the call centre. Motor On the Spot Claim Servicing Traditional claim servicing involves the entire rigmarole of a call from the customer from the site of the crash of the vehicle to the insurance company, the appointment of a surveyor, his on-site visit and assessment, submission of the report to the firm and subsequent processing of the claims.