What: Many companies are already using AI to help with fraud detection, but there’s more value to be had in using AI to create a better claims experience and accelerate the claims process.
Quote: “‘At the most basic level, the claims process can be automated to reduce the amount of manual labor,’ [Itay Bengad, CEO and co-founder of MDgo] says. ‘At higher levels of A.I., it is possible to introduce new data sources to the claims process, making it faster or more predictable, efficient, personalized.’”
Why it matters: Customer experience is everything in claims, and using AI to speed up and make the process easier for the customer will lead to improvements in overall customer satisfaction.
Read: Beneath the Surface: Why Insurers Should Look Beyond “the Tip of the AI Iceberg”