Artificial intelligence (AI) analytics in the insurance sector is proving to be not just a tool, but a real necessity. In fact, it offers not only increased efficiency, but also an improved customer experience, redefining the way insurers manage interactions with their customers. Moreover, it relieves users of tedious tasks and low added value. Thus, this article aims to examine the different possible use cases of analytical AI in this sector, as well as to study the impact ofInboxCare to Saretec and AssurOne, two insurance companies that have chosen to integrate AI into their businesses.
Improved operational efficiency
Management of incoming requests
Analytical AI automates the processing of incoming requests, whether for inquiries, claims or subscriptions. For example, AI systems can instantly analyze customer requests and provide fast and accurate responses, improving operational efficiency and reducing processing times.
AI can also speed up claims processing by quickly analyzing submitted information and determining the eligibility of claims. This speed and precision in the handling of complaints increases the confidence of customers in their insurer.
Moreover, analytical AI facilitates claims management as it allows them to be handled with the reading and interpretation of claims declarations and supporting documents. Analytical AI allows the correct categorization and routing of different applications and attachments, extracts useful information and associates it with the corresponding contracts. It also checks the consistency of the receipts received while preparing draft responses for your advisors.
Customizing responses
Moreover, the AI is able to analyze the context and preferences of the customers, allowing a personalization of the answers. This leads to more relevant interactions that improve customer experience and build loyalty. This use case of analytical AI is crucial when you know that 88%* of insurance customers require more customization from their provider.
*(Source: Accenture Study)
Simplified decision making
Analytics AI enables insurers to set trends by analyzing large amounts of unstructured data. This includes identifying claims trends, assessing fraud risks, and forecasting market developments. This information helps insurers adjust their products and rates in a more dynamic and personalized way.
Therefore, analytical AI proves to be a major asset for brokers and insurance experts. On the one hand, brokers can combine analytical AI to process large quantities of unstructured data into structured data, which allows them to better analyze customer needs, optimize their offers, and relieve themselves of tedious tasks. On the other hand, insurance experts will be able to analyze a large amount of data to best assess the possible risks. Moreover, analytical AI makes it possible to process claims more efficiently by better evaluating the damages and payments due, while detecting fraud attempts.
Thus, we see that a variety of use cases are available to the insurance industry regarding the use of analytical AI. To illustrate our remarks, and these different use cases, we will take the example of Saretec andAssurOne, two insurance companies, which have chosenInboxCare, an analytical AI solution for automated processing of incoming messages.
Saretec and the processing of messages and attachments
Saretec’s adoption of AI analytics has been a success in their handling of incoming requests and data management. By effectively integrating this technology, Saretec deals with Golem.ai more than 2 million emails and their attachments per year, which has led to considerable time savings for employees. It is a tool that allows employees to focus more on tasks with higher added value, to free up time.
In addition, the implementation of InboxCare at Saretec resulted in an accuracy in message processing, reaching 87% of relevance. This level of accuracy is especially important in an industry where the timeliness and accuracy of information is crucial to maintaining customer trust and satisfaction. AI’s ability to automatically categorize and classify attachments has also helped reduce repetitive, low-value tasks, enhancing Saretec’s operational efficiency.
Finally, Saretec’s choice to collaborate with Golem.ai to deploy an AI solution that respects ethical standards and the GDPR was a key aspect of their strategy. This is one of the many benefits of analytical AI. This decision demonstrates not only a commitment to data protection and regulatory compliance, but also a desire to innovate while respecting ethical principles. The successful deployment in less than three months and the continuous improvement of the solution testify to Saretec’s agility and adaptability to modern technological challenges.
AssurOne: French innovation to simplify the work of managers
AssurOne, wholesale broker and major and innovative player on mobility and pro, has recently integrated artificial intelligence into its operations, to support the work of managers in the processing of customer requests. They process hundreds of thousands of emails every year, a significant operational challenge that requires an effective and innovative solution.
The implementation of the solution InboxCare of Golem.ai allows to process this flow to extract the most relevant information, to categorize and process incoming messages. This integration allows us to process more than 9,000 emails and attachments per month, divided into four message types and eight categories of attachments. This diversity includes key documents such as grey cards, SEPA mandates, driving licences and identity documents, among others. The innovation brought by this AI has improved the productivity and quality of the processing of applications.
Corinne Le Lann, Director of Operations at AssurOne, demonstrates the effectiveness of this solution: InboxCare allows us to easily find contracts, to know the documents they contain and to save time in the answers we provide. »
Artificial intelligence is above all a tool at the service of AssurOne case managers.. Thus, the solution automatically assigns a contract number to each email and generates a draft response or an automatic message for each request, thus streamlining the operational process.
Ultimately, we understand that analytical AI offers different use cases in the insurance sector, both for brokers and insurance experts, enabling better management of the customer relationship and incoming requests as well as better risk analysis. And this, as evidenced by companies such as Saretec or AssurOne, which by choosing InboxCare, were able to significantly improve their management of incoming requests.
Therefore, if you also want to automate the processing of incoming messages, Contact us !
