Claims

These technology trends will reshape the way insurance companies operate, interact with customers and mitigate risks.

Severe environmental threats, together with Australia’s regulatory landscape, have catalyzed insurers to adopt new technology quickly.

They need to challenge their assumptions and expectations, redefine business optimization and draw up a new map.

6.2 million properties in the U.S. experienced one or more damaging hail events in 2020, making these warm months a very busy time. 

For workers’ comp claims with attorney involvement, average indemnity costs are $77,807, 390% higher than for unrepresented claims.

Investments in AI are expected to save auto, property, life and health insurers almost $1.3 billion in 2023, up from $300 million in 2019. 

Paperwork is hardly glamorous, but AI’s superhuman ability to sift through pages could well and truly change the game in claims.

Customers want to be onboarded not in days but in minutes. They are no longer willing to wait for weeks and months to settle claims.