Artificial Intelligence in Insurance Claim Processing and Fraud Analytics
How Artificial Intelligence is Impacting the Insurance Industry.
AI Solutions
Artificial Intelligence in Insurance Claim Processing and Fraud Analytics
Online and Economy Sharing
Niche Wellness Services
Early Warning Systems
Customer Engagement and Social Media Platforms
Rent Protection and Smart Homes
Threat Intelligence and Automation
Real-Time Estimation, Fraud Reduction and Improved Security
Remote Claim Settlement and High Quality Evidence
Customer Satisfaction & Robo-Advisors for Financial Products
Artificial Intelligence for Insurance Service Offerings
Streamlining Insurance Claims and Risk Quantification with AI.
Consumer Behaviour and Marketing
By enabling the clients to acquire new customers, identifying customers, designing Segment-Based Retention strategies with Acquisition and Churn Analytics.
Risk & Compliance Analytics
Risk and Compliance Analytics to proactively identify issues, take corrective action, and self-report to regulators on a timely basis.
Fraud Analytics
Using AI, Insurers improve Fraud Detection and criminal activity through Data Management and Predictive Modeling. Match the variables in every claim against the profiles of past claims which are fraudulent for further investigation.
Analytics Based Insurance Solutions
Text Analytics
Anomaly Detection
Recommendation Engine
Speech Recognition, Image and Video Analysis
Natural Language Generation & Simulation Modeling
Risk Quantification
Continuous Monitoring & System Characterisation
Applications of Artificial Intelligence in Insurance
Real-Time Claim Processing and Decision Management Solutions for Enterprises.
01Big Data Management and Data Governance
It provides strategic approach to Data Governance as Collecting, Safeguarding, and analysing Big Data. The most prominent governance goal is to provide the reliable and accurate data for risk aggregation and reporting including data accountability and traceability. Enables smarter decision making by spotting trends, patterns and hidden insights by visually exploring data sets of any size. Uncover unexpected insights, find answers to complex problems and quickly identify new and better courses of action by visually exploring your data.
02Real-Time Claim Processing and Estimations
Real-Time Data Analytics provides fast updates and course corrections for the most effective route forward.It monitors risk and customer behaviour, and takes actionable steps in Real-Time or near Real-Time, leading to improved underwriting and pricing of current products.
03Operational Management
It enables Supply Chain Analytics, Claims Analytics, Call Center Analytics, Workforce Analytics, IT Operations Analytics, Spend & Usage and Behaviour Analytics to gain deep insight into the actions to improve operational efficiency. It reduces costs and optimize business and financial performance, payments processing, branch and channel performance and sales management, which in turn enable Insurance Companies to plan more strategically and effectively for the future.
04Pattern Recognition
It identifies patterns in the user data, business opportunities and fraud risks. It reduces data security breaches, payment and transaction fraud. It includes Finger Print Identification, interpret DNA sequences, Seismic Analysis, Image Processing, Segmentation and Analysis, Computer Vision.
05Decision Management
Recommendations based on identified patterns, Asset Management, Liability Management, Automated Decision Modeling, specific analytics decisions, Decision Profiling.
06Personalisation and Behavioural Pricing
Receives Real-Time and current information needed and used, Telematics and Sensors for collecting customer's information, personalised attention to customers, monitors customer's goal and behaviour through Robo-advisors and understands their emotions.
Services & Solutions
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