Claims

There is much to learn about how AI was used while we were eating buffalo wings and chips during the big game.

Natural language processing can sift through massive data sets instantly, identifying anomalies that may indicate fraud.

They still require far too many manual steps. The good news is that digital platforms and tools can greatly accelerate the process.

The right design for embedded insurance can let insurers learn from claims and continually make assets less vulnerable in the future. 

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

This month's focus, sponsored by InvoiceCloud, is Claims.

In this month's ITL Focus, Paul Carroll and Kyle Evancoe, VP of sales at InvoiceCloud, explore the evolution of insurance claims.

AI lets insurers make connections and draw insights from data that otherwise may not have been available, at least not at speed or scale.

To be successful in our use of AI, we must remember one thing: A machine cannot replace the need for human touch in our industry.