The intricate procedures involved in the underwriting process are traditionally burdensome, albeit necessary, costing ample employee hours and the risk of customer dissatisfaction. With the advent of artificial intelligence, insurers are automating these processes with smart technologies to increase their overall efficiency, accuracy, and customer satisfaction.
Leveraging AI in underwriting not only allows for a faster, automated underwriting process but a more accurate one, as predictive analytics create a comprehensive risk profile based on patterns from geographic, psychographic and demographic factors. The solution offers sound cognitive reasoning, ensuring there are no faults or biases leaked into the process. Leaving underwriters time to focus on higher value work that falls outside of the realm of ordinary perception, increasing their efficiency and overall impact.
With faster and more personalized coverage, customers are more satisfied with their experience; providing a higher likelihood of installing or increasing coverage. Adastra can make this a reality with the following solutions.
Streamline the on-boarding process with a secure and user-friendly interface.
Create an AI-driven chatbot to assist your customers through the underwriting process and answer any pertinent questions.
Leverage social data in your analysis to create a rich customer profile.
Adastra provides end-to-end services along the digital transformation journey to nurture and fully leverage your data. We’ll ensure your data is accurate, accessible, and complete, implementing natural language processing to analyze information, and recommend unbiased and automated coverage, based on pre-determined patterns. Offer your workforce the opportunity to enhance their capabilities and promote efficiency.
Would you like to start implementing AI-Driven underwriting? Contact Adastra for a free discovery session.
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