Top AI Use Cases in Insurance

Claims Fraud Detection

Description

Flags fraudulent claims using patterns and anomaly detection.

Business Impact

Reduces fraud losses and investigations.

AI Claims Triage

Description

Prioritizes claims based on complexity and severity.

Business Impact

Speeds up processing and resolution.

Underwriting Risk Assessment

Description

AI evaluates risk factors from applications.

Business Impact

Improves pricing and risk profiling.

Chatbots for Claims Intake

Description

Collects FNOL details via natural conversation.

Business Impact

Improves customer experience and accuracy.

Document Digitization

Description

Extracts info from PDFs and forms using OCR+NLP.

Business Impact

Reduces manual entry and speeds up workflows.

Customer Lifetime Value Prediction

Description

Scores policies based on long-term value.

Business Impact

Improves targeting and retention.

Quote Personalization

Description

Dynamically adjusts coverage options and pricing.

Business Impact

Increases conversion rates.

Sentiment Tracking on Claims Calls

Description

Analyzes tone in calls for escalation prediction.

Business Impact

Helps reduce complaints and attrition.