AI For Claims Optimization
The old adage "time is of the essence" is even more acute in the catastrophe claims arena.
Responding quickly and efficiently is essential.
However, hurricanes and other natural disasters tend to result in a very high volume of claims,
a shortage of adjusters and higher loss adjustment expenses, with claims resolution delayed
for many of those who were impacted. Fortunately, analytics and AI tools can improve the
claims experience and free up adjusters to manage serious or complex losses, while allowing
rapid settlement of more simple losses.
Figure 1: Geospatial provides truck drivers with proactive alerting and
notification for adverse weather conditions.
By implanting data mining
techniques to cluster and group loss
characteristics (such as loss type,
location and time of loss, etc.), claims
can be scored, prioritized and
assigned to the most appropriate
adjuster, based on experience and
loss type. High severity and more
complex cases are assigned to the
most qualified adjusters while low-
exposure claims are channeled to
less experienced adjusters or in
some cases automatically
adjudicated and settled.
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