Every insurance customer survey going right now tells us one thing: when customers make a claim, speed is their top priority.
This sentiment is most pronounced in the UK, where 63% of customers prioritise speed, according to Ipsos, and almost 30% of UK handlers say customers complain about delays and lack of communication, according to more recent data from Sprout.ai.
The issue is that speed is one thing handlers can’t provide right now, because the majority of them are drowning in paperwork.
For each and every claim, it’s a constant struggle to retrieve and review documents and evidence. Rooting through unstructured data, and matching it to compliance and policy guidelines scattered across business silos, takes up a huge chunk of a knowledge worker’s time.
Ultimately, the biggest sufferers are the customers waiting at the end of the line, trying to make their claims.
How to speed up your claims handling
With claims handlers drowning in documents, here’s how you can throw them a lifejacket.
As we wrote in our recent use case, viabl.ai powers claims handlers with the combined power of Gen AI and Decision Intelligence, to deliver faster and fairer outcomes for policyholders.
It’s simple, easy to use, and based on the expert knowledge of your domain experts, so you can be sure that it’s completely compliant with all of your policy guidelines and industry regulations.
Here's a breakdown of how it works:
At the beginning of every claim, viabl.ai integrates with a Large Language Model (LLM) to interpret claims reports and extract nuanced case information.
Next, our Decision Intelligence engine automatically fires prompts to your LLM to check information and suggest next steps, following a Decision Tree modeled on your company’s best practices. viabl.ai reaches an objective and auditable assessment of the claim, as well as filling in missing or ambiguous information.
With all the objective and auditable information at hand in easy UI dashboards, your claims assessor makes an informed call about the merits of the personal injury claim.
viabl.ai applies decision mining to predict the expected claims cost and confirm level of cover, determining coverage based on historical claims data, and making recommendations on the right level of compensation and any conditions to be applied.
It’s that simple and it’s also scalable. With a Gen AI and Decision Intelligence model based on your company’s best practices, you can take your new AI claims process company-wide to enhance decisions across the board – and as more data becomes available from each case, your model continuously improves over time to continuously improve claims decisions.
Finally, let’s finish on some more positive statistics. According to that same Sprout.ai study, 95% of insurance claims handlers are ready to embrace technology and want to exceed customer expectations.
All you have to do is give them the tools to do so.
Get in touch for more information about our claims handling technology.
