Every year, global insurers report trillions of dollars received from premiums. As the industry continues to grow, insurers can maximise market share, refine processes, reduce overheads and increase margins. On the other side of this, is the increase in losses due to fraudulent claims, challenges in offering a seamless customer experience across distributor channels, and wasted marketing spend on unproductive customer segments and markets. Insurers who fail to adapt, expose themselves to losses.
AI for Insurance
Increase Customer Acquisition, Manage Risks, Reduce Churn & Optimize Claim Management
Leveraging disruptive AI technology lets insurers take prompt and accurate decisive actions that minimise loss due to fraud and reduce costs, while maximising customers and growth. CyborgIntell enables insurers to develop and operationalize machine learning models that rapidly generate predictive insights within hours. This result in higher conversions, better underwriting, efficient claims management, accurate fraud, and policy lapse risk mitigation.
15% improvement in accuracy and 7% reduction in false positives over existing ML models at one of India’s largest private life insurers in India with over 10 million policyholders.
CyborgIntell helped a leading general insurance company in India improve customer retention by 16% and reduce revenue leakage by 9% with accurate policy lapse predictionRead More