Automating Claims is Where AI Can Really Score

Automating most of the claims process is arguably the most cost-effective task that AI can resolve for the entire insurance sector. Claims take time, many are complex and they can cause upset and distress for customers, if delayed, which often prompts a refusal to renew. So there are two ways insurance brands can end up paying a high price for poorly handled claims. But can you automate every claim? Maybe.

There will always be a need for the human touch, especially when dealing with catastrophe events, personal injury claims and more. But many low speed vehicle claims, or routine property incidents, require little more than a series of checks to establish the claim’s authenticity, the exact policyholder cover and…well, that is about it, next step payment platform.

Here’s some news from omni:us who are working on streamlining the marine claims process;

omni:us, the leading provider of AI-powered end-2-end insurance claim automation solutions, has teamed up with MS Amlin Marine NV to revolutionise its marine insurance claims process. The collaboration has resulted in a fully automated end-2-end claims process for all categories of marine insurance and the technology provider and insurer are committed to continuing to work together to bring the benefits of this innovative technology to more customers.

The newly-implemented Artificial Intelligence-as-a-Service solution, the omni:us Digital Claims Adjuster, streamlines the claims process by allowing initial communications from brokers and clients to be handled directly via email, eliminating duplicate claims. It also correctly interprets the line of business, type of loss, cause of loss and parties involved, making the process more efficient and accurate. In addition, the technology assigns endorsements to existing claims and provides claims handlers with recommendations for action.

“Marine insurance is widely regarded as one of the more complex segments of commercial insurance, making this collaboration particularly noteworthy. Our cutting-edge claim automation technology is designed to simplify the process for both insurers and policyholders and partnering with such a reputable insurance company like MS Amlin is a testament to its effectiveness,” says Thomas Hauschild, CEO of omni:us.

“Our goal is to make the claims process as seamless and efficient as possible, and our partnership with omni:us is an important step in that direction,” said Daniella De Lint, Claims Director of MS Amlin Marine and MS Amlin Insurance. “Not only have we seen a significant increase in efficiency and accuracy in our claims process, but we have also been able to improve the overall experience for our policyholders. We are excited to continue to expand the benefits of the omni:us solution to other lines of business and further improve our ability to serve our customers. Collaboration with innovative companies like this is a key to our success and the future of our industry.”