Symbility and DeepLearni.ng Bringing Artificial Intelligence to Insurance
By closely collaborating with Symbility's leadership, DeepLearni.ng has completed a comprehensive assessment of current opportunities in the company for artificial intelligence applications, based on impact and viability. Once deployed, these use cases would rapidly provide property insurance carriers and their vendor networks a new way to lower indemnity spend, provide better business insights, and most importantly, increase revenue.
"Symbility is very focused on a new suite of self service products for policyholders that leverage the data from the millions of property insurance claims we have processed over the years," stated
Both Symbility and DeepLearni.ng see massive potential for artificial intelligence to transform the InsurTech space. Some of the areas Symbility and DeepLearni.ng have already begun to explore include:
- AI-Assisted Claims Management - using artificial intelligence to assist property claims for more accurate and consistent estimates, while at the same time simplifying the entire process for everyone involved
- AI-Assisted Diagramming and Claims Processing - streamlining tools with artificial intelligence to help adjusters easily produce more accurate measurements, diagrams and annotations for claims, while also utilizing indirect sources to automate some of the data collection
- AI-Automated Business Intelligence - utilizing artificial intelligence to automatically create reports on business performance
- Personalizing the Claims Experience - using pre-existing data about policyholders and similar past interactions, artificial intelligence can personalize each customer's experience through automated reporting systems that are unique to their individual policy and situation
"The insurance industry is the perfect space for AI right now with all the resources required to get machine learning projects off the ground: lots of context-rich data and interesting use cases," says DeepLearni.ng's Co-Founder,
With a roadmap of use cases customized for the business established, the next step of Symbility and DeepLearni.ng's partnership is to begin the process of building and deploying the company's first artificial intelligence solution, which will be selected based on its viability for rapidly measurable results and long-term business impact.
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