FutureofInsurance

Future of Insurance with AI
Join the virtual chat to learn how emerging technologies including Hybrid Cloud and AI can elevate policyholder experiences, reduce operational costs, automate claim processing time, fight against fraud, and help insurance companies accelerate new products and services to market.
Top Votes
Mitul
The statutory/regulatory bodies like GIC/IRDAI would hold an insurance company in high esteem if there are lower cases of fraud reported by virtue of having detected and hence pre-empted from the frauds occurring – thereby minimising any reputational loss.
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Souvik Banerjee
We have implemented a fully automated statutory and regulatory reporting framework which spans across all departments, and makes manual work for reporting negligible, saving time and ensuring efficient compiling with complete data checks and validation.
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Souvik Banerjee
https://www.tcgdigital.com/insurance/#tab-8
https://www.tcgdigital.com/insurance/#tab-8
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muratguvenc
Welcome to the #FutureofInsurance Virtual chat! Today, we will discuss how emerging technologies including Hybrid Cloud and AI can elevate policyholder experiences, reduce operational costs, automate claim processing time, fight against fraud. https://www.crowdchat.net/s/167ih

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https://www.crowdchat.net/s/167ih

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Souvik Banerjee
Artificial intelligence and its subset Machine Learning combined with IoT has opened new doors for insurance industry to get deeper into the customers' minds and to optimize its business processes
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Souvik Banerjee
The future of insurance with AI are envisaged to manifest in the areas of Distribution/ purchase, Underwriting/ pricing, Claims (and settlement) etc. as stated by McKinsey (https://www.mckinsey.com/industries/financial-serv...)
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Ramnath Sriperumbuduri
With the amount of data being available to the insurers, it may be time to start looking at a Data Eco System that will help create better Customer Experience with improved Automation and AI
muratguvenc
For more information, please check out - https://accuras.us/ai.
https://accuras.us/ai
AI - Accuras
AI - Accuras
Accuras AI Accelerator is powered by IBM Cloud Pak for Data as a Service, an open, extensible data and AI solution that runs on any Cloud.
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Mitul
Machine Vision and Image Recognition will help implement self-service claims inspection by the claimant. It will reduce
Inspectors visits to repair workshops.
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Souvik Banerjee
We have developed many of those capabilities with our state of the art big data analytics platform (https://www.tcgdigital.com/insurance/
)

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https://www.tcgdigital.com/insurance/
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muratguvenc
We would like to thank our hosts and participants for a lively and insightful discussion today! https://www.crowdchat.net/s/067jm
https://www.crowdchat.net/s/067jm

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Souvik Banerjee
Overall, AI covers a lot of ground for the future of AI, right from connected customer experience, and customer sentiment analysis, to CLTV analysis, to automated claims settlements, to early fraud detection and automated regulatory reporting
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Ramnath Sriperumbuduri
It is here in the early detection of Fraud, the AI tuning may require a lot of work due to the pandemic. Many of the behaviors well before the pandemic are expected to be different in the future. The predictive analysis needs to add more weight to the near-time scenarios.
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muratguvenc
Machine Learning-empowered fully automated claim processing solution can avoid several pain, including:
- Error-prone manual data extraction
- Inconsistent claim classification
- The need for additional downstream validation
- Increased time and cost for resolution https://www.crowdcha
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muratguvenc
https://www.crowdchat.net/s/767iz
https://www.crowdchat.net/s/767iz

Souvik Banerjee
One other important aspect of automated claim processing is Fraud Detection, which can trigger an manual investigation flow - while ensuring the rest of the claims go uninterrupted
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