Claims

There is no doubt that it won't be long before nearly all identity management systems are powered by AI and machine learning technologies.

AI is critical to processing and assessing all inputs and removing friction. Yet AI alone cannot deliver transformation.

The reality is that injuries occur all the time in any environment, at home just as they do in a conventional workplace.

Claims management is a perfect use case for just how critical platforms and ecosystems can be in achieving transformation.

While the benefits of claims automation are indisputable, delivering a truly “touchless” experience will require a technological evolution.

Straight-through processing of claims is likely to become more common, especially in personal lines and individual life.

The secret is to unlock the potential of the large quantities of unstructured data streaming through the claims function.

With automated claims processing, the turnaround time for settlement will be measured in minutes rather than days or weeks.