One would think that the majority of the investment in AI is to improve sales and marketing capabilities, but another significant area where AI carries the potential to garner quick and effective ROI is ‘claims operations.’ Moreover, it can transform customer experience right at the ‘moment of truth.’
Insurers worldwide are undergoing a transition in how they leverage AI - from a conventional ‘detect and repair’ approach to a more futuristic ‘predict and mitigate’ approach. While AI in Insurance has tremendous potential, being readily aware of the underlying technology's current maturity and limitations is paramount.
Watch this conversation to learn about challenges associated with claims management in the current scenario and how AI can revolutionize the existing approach.
- Why a data-driven culture is critical for organizations
- The possible fallouts of using AI in the absence of a well-defined roadmap
- How Insurers can get started with a digitization journey
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