Expert System Advances Artificial Intelligence for the Insurance Sector
Digital transformation processes are driving new paths of innovation for the insurance market. Being competitive depends on higher levels of efficiency and a focus not only on the quality of the offer, but also on the ability to reduce costs, simplify compliance and to meet ever-increasing customer demands. It is no coincidence that two of the most relevant insurance processes—which require handling large volumes of data that contain high-risk, unstructured information—are central to digital transformation in the sector: claims management and underwriting.
To automate these processes,
Cogito for Claims Management: Cogito automatically recognizes different documents (claims, medical forms, first notification of loss, legal documentation, etc.) and identifies relevant information to easily compare quotes and coverage, and to provide useful suggestions for final evaluations. Automating the entire process reduces operating times, improves customer service and provides early detection of fraud indicators.
Cogito for Underwriting: Using customer and risk profile data, Cogito proposes a premium estimate and other elements to complete a quote or to draw up a policy. Through automation, customers can manage the underwriting process faster and with greater accuracy for audits, compliance analysis and risk assessment.
"Today, we are presenting a truly world-class offering for the insurance sector," said
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