Artificial Intelligence in an Insurance Company: Main Tasks

Machine learning and artificial intelligence are gradually becoming not just a newfangled trend, but a traditional solution for many areas of human life. AI in insurance serves to automate routine tasks. The execution of such tasks requires a lot of human labor hours. Programming in the usual way is not an option because in different cases, there are numerous variables in the calculation.

AI Call Center Features

Dasha.AI provides the technology of AI for insurance call center. It analyzes calls and helps automate the work of the quality control department of a specific company. Machine learning technology performs the following actions:

  • Call analysis. The system integrates with telephony and CRM and analyzes incoming and outgoing calls. An employee can selectively listen to several calls a day, and the service can listen to about a million calls in 5 minutes.
  • Finding the right calls. You can set up call alerts with specific keywords: the service will highlight the necessary phrases.
  • Making a report. You can generate a report by time, specific operator, department, certain keywords in calls.

The AI-powered system makes it easy for managers to track employee performance, create tasks, and assign grades. To analyze all communications with customers, telephony, chats, and letters are connected to the service.

What Else Can Machine Learning Do in Insurance

AI is used in insurance in the following areas:

  • AI can analyze a lot of information about each customer. For example, if a client is interested in recreation, air travel, and new countries, artificial intelligence offers travel coverage for him. If the client is interested in a mortgage or the purchase of real estate, AI offers property coverage.
  • Estimation of risks. The assessment of risks for each client is carried out using a variety of individual and general variables, for example, information about the client, information about the object, statistical data on insured events with the same indicators, etc. In such a situation, it is hard for a person to assess the risk, and AI does it rather accurately.
  • Process automation. In this direction, AI in the form of a chatbot implements automatic recognition of uploaded documents, which reduces the cost of this process. Estimation of damaged cars is also implemented to determine the cost of potential repairs.
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Reducing the time necessary to process claims is the goal of any company dealing with health and property coverage. It is not hard to predict the costs if you study the client in more detail. However, when there are many of them, all that remains for the insurance company is to analyze the known facts about its client and make predictions. No one talks about 100% correct predictions because this is unrealistic. We can talk about 80-90% of accurate predictions, and they are even made with the help of artificial intelligence.

About the author: Cory Weinberg

"Student. Subtly charming organizer. Certified music advocate. Writer. Lifelong troublemaker. Twitter lover."

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