TECHNOLOGY

NINA LANEY EXECUTIVE PARTNER FOR INSURANCE , IBM IX manipulated or whether it fits into other patterns of fraudulent behaviour that would raise it as a red flag . a queue or be placed on hold – but it also frees up time for the insurer .

Neil Parker , GM EMEA for intelligent automation specialists Laiye , explains : “ Whilst the intelligent chatbot provides an excellent service to customers it also releases capacity within the claims function , reducing operational costs and leading to lower cost of insurance .”

In addition , claims portals give customers the ability to submit documentation about a claim without needing to wait for human verification . Using intelligent automation , insurers can check whether the image appears somewhere else online , whether it has been

Insurance moving towards a prevention model “ One of the big trends we ’ re seeing in how insurers are using AI is in prevention ,” explains IBM ’ s Nina Laney . “ An example of that is offering customers suggestions of alternative driving routes to their usual ones that would be safer ( fewer crashes historically ) or better in the current weather conditions . Another example is detecting water leaks through smart home devices in real time , engaging insurers and homeowners automatically . Not only does this lower premium costs by mitigating risk from the onset , but , ultimately , it helps reduce damage and disruption for the customer .

“ Insurers are also harnessing end-to-end Internet of Things ( IoT ) devices to support customers proactively , in real time . For instance , using IoT analytics , an insurer can look at real-time changes in speed and calculate a vehicle ’ s crash impact based on a 100-point scale . If the impact is above a certain threshold – and the likelihood of a serious crash is detected – dispatchers first contact the customer and , if no one responds , proactively send emergency responders .”

Laney expects insurers to continue that shift in future – a move away from detection and repair , towards prediction and prevention instead . In such a scenario , far from just settling claims , insurers are proactively engaged in helping to prevent loss from happening .

Richard Stevenson , CEO of conversational AI company Red Box , says : “ Given the explosion in the amount of data insurance

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