Claims handling, AI and the human element
Claims handling has changed hugely thanks to advances in technology, a panel at the Intelligent Automation in Insurance: unlocking the artificial intelligence revolution conference, taking place in London today, has found.
Chaired by Karen Foreman, senior consultant, Merlin Digital Consulting, the panel included Elena Rasa chief underwriting officer at Zurich; Mario Ricco, global chief claims officer, Generali; and Mark Southern, commercial director, WPA.
The panel stressed that increasing automation was making claims handling a lot faster, with electronic collection and analysis of data resulting in decisions being made more rapidly.
It was agreed that the key was to have clean databases, and that the increase in the use of robotics was also a significant development, allowing faster data collection and analysis.
Another key challenge that was identified was the use of artificial intelligence (AI) in the claims process. For Southern, it requires significant investment to do it properly. He said that AI data gets into places that might not have been anticipated, unless it is carefully managed.
The panel agreed that some companies are seeing culture shifts internally at the moment, with some regarding technology with suspicion as it changes the way they work.
It was agreed that employees need to be smarter and use their brains differently when it comes to looking at technology and that this is a big challenge, especially due to this suspicion of technology.
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