Artificial Intelligence in Insurance

Advance analytics to Gain Competitive Advantage

Artificial Intelligence in Insurance

AI models for accelerated transformation

Artificial Intelligence in the Insurance industry has the potential to mimic human abilities like perception, reasoning, learning & problem-solving to transform every aspect of the industry. We are currently helping insurers in making better & automated decisions with a wide set of AI models that are applied across the customer life cycle.

Data Science & AI Enablement

Integrating AI and its capabilities into the business functions is the best growth catalyst any Insurer can have.

AI IN INSURANCE
Customer Data Platform

Build advanced data analytics platform

Throughout the customer lifecycle, Artificial Intelligence is here to reshape product development, pricing, distribution, underwriting, and claims. But relying on a legacy data platform can impede adoption. Having a robust data platform, compatible with data science workloads that deliver unique insights, enables confident decision making and business growth.

ai in insurance claim process
Claims Processing

Identify and eliminate any chance of fraud

Faster claims processing is one of the differentiation expected by insurance customers. But for insurers, it comes with the potential risk of paying more fraudulent claims. AI models and machine learning tools are here to help insurers to detect fraudulent activity by spotting unusual patterns that a human eye might miss.

AI Cross sell
cross sell / upsell

Confidently pitch the next best offer

Most customer interactions are limited to policy purchase, handling a claim, and policy renewal. However there are untapped up-sell or cross-sell opportunities that can drive revenue growth. Identify the next best offer for each insurance customer by examining their life stage, the economics of all the available offers as well as an evaluation of any existing data or analyses.

applied ai customer acquisition
Customer Acquisition

Segment, target & acquire customers

Gain a competitive edge in reaching out and better serving an ever-demanding set of customers. Using advanced segmentation models, Insurers can derive insights right from basic demographics and life stages to a view based on the mindsets and attitudes of each customer. With such segmented customer data in place, insurers can hyper-personalize the products offered to a customer.

applied ai customer retention
Customer Retention

Understand why your customer leave you

Careful retention of customers is one of the critical factors to be profitable and competitive. The dramatic shift in customer behaviors and buying patterns are making it hard to analyze and understand why customers are switching. Leverage machine learning models to help predict churn rate and intuitively analyze customer churn behavior and related patterns.

AI/ML models applied across the customer journey

applied ai awareness
Awareness & Purchase
  • Marketing mix optimization

  • Prospect & response models

  • Sales performance & capacity

test
Customer Service & Experience
  • Recommendation engine

  • Customer life time value

  • Customer retention

  • Customer satisfaction

  • Virtual assistants

AI Underwritting
Product & Underwriting
  • Pricing sophistication-usage-based insurance

  • UW predictive models

  • Image recognition-dwelling condition, life insurance (BMI)

AI insurance claims
Insurance Claim
  • Claims Insurance risk property & injury, legal risk, fraud

  • Claims operation-subrogation, capacity

  • Claims satisfaction

Our partnerships that multiply the impact

Our experts leverage SnapLogic to help businesses of all sizes to Extract, Transform and Load data from various sources to a destination of choice.

We are a Snowflake partner. Our Snowflake certified professionals enables faster transformation to cloud and realize the benefits of modernization.

Our experts leverage Uipath's capabilities in providing Intelligent automation solutions that involve AI in the end solution.

Insights

Read our latest thoughts on technology solutions, processes and the best practices that help you drive overall business development and growth.

Challenges get the best out of us. What about you?

We love what we do so much and we’re always looking for the next big challenge, the next problem to be solved, the next idea that simply needs the breath of life to become a reality. What’s your challenge?