AI Assisted Claims Processing

The Problem

Insurance companies are now offering new ways of submitting claims via multiple channels including web portals and mobile apps. However, processing these claims requires time-consuming manual work, that is also prone to error. An increasing number of claims also results in higher delays for customers, affection customer experience and satisfaction levels. Can AI be applied to improve claims processing?

Solution

NLP, Machine Learning and Computer Vision models deployed on Kranium can be used to process claims. Firstly, NLP and Computer Vision models can be used to process and extract details from a large number of documents in a short time, thereby saving considerable amount of time and eliminating human errors.

Machine Learning models can then run a fraud-check to establish the genuineness of the claim application. Models can also be used to route claims appropriately and make decision on claims.

Claims can be processed and a decision can be made in seconds with such systems.