Integrate AI and Machine Learning into the Claims Process to Unlock Efficiencies
Changing market dynamics are driving an automation revolution within an insurance marketplace that competes on two key factors: cost and customer experience. The ability for insurance companies to deliver on this (faster service, greater transparency, increased control) begins with data. Yet, the insurance industry today continues to struggle with the first mile of data processing, relying on a complex patchwork of outdated, legacy technology and cumbersome, manual processes. This creates an informational and operational bottleneck that affects all downstream processes, preventing customers from getting the experience they deserve and putting an insurance organization’s competitive position in jeopardy. Insurance leaders everywhere are rethinking their existing operations, leveraging the latest technologies to reduce manual work, streamline processes, unlock employee capacity, and enhance overall customer experience. Intelligent automation technologies that utilize Artificial Intelligence (AI) and Machine Learning (ML) are becoming the critical driver to higher quality data and faster, more reliable insurance processing and decision-making – whether that’s handling a claim or processing an application. Watch this webinar to gain insight into the cutting-edge technologies being used by insurers to streamline claims processing and improve customer experience. Change is always a challenge, and it takes time to fully integrate new tech. But by focusing on some of the tips and best practices mentioned here by these experts, you can help your firm become more agile and responsive to future needs.