Artificial Intelligence in the Claims Process
Toronto, ON
2
WEEKS
2017
Nov 27
START DATE
2017
Dec 8
END DATE

Claims – an unpleasant Customer Experience. Chatbots make customer happy?!

Calling an insurance company to notify a claim is not amongst the favorite activities and most likely not a good experience. It is no secret that policyholders are hardly ever happy with the service of their insurer or broker when it comes to claims management.

The insurance industry is well aware of the problem. According to the Association of British Insurers (ABI): β€œFor an industry full of people passionate about making a difference for customers, it is extremely disappointing that the sector has so badly failed to secure their trust.”

Customer experience became one of the latest buzzwords in insurance. While most insurers are focusing and investing on improving the customer experience with sales and marketing, there is still a gap when it comes to claims. Consumers are simply looking for the same kind of experience they can now find elsewhere in their life – and chatbots play a very important role for them.

No doubt, messenger services and chatbots are playing a very important role in our everyday life. By 2019 more than 25% of the world population will be using mobile messaging apps, according eMarketer. Today on Facebook alone, there are more than 30,000 chatbots, used by people in more than 200 countries.

People are ready for chatbots. According to a survey by HubSpot, 40% of the people surveyed do not really care who or what they are being helped by to solve their problem. Chatbots are helping businesses with customer service 24/7 to answer questions, provide information, book appointments, solve problems or make purchases. AI and NLP give chatbots the ability to ask the right questions and make sense of the information they receive and provide.

For insurers or brokers chatbots provide a huge potential to improve customer service, engagement, sales and enable real-time and contextual access to information.

In this two-week sprint, the project team will work together, learn how chatbots and AI work and focus on how a chatbot has to be designed and implemented to significantly improve the experience of claims notification and management.

RSVP soon to secure your place to this unique experience!

 

This project is has been completed and closed for applications. See our Innovation Projects Listing for a full details on upcoming projects.

What is on the menu
Each innovation project will begin by establishing a Lean Startup mindset, followed by the phases of Design Thinking as supported by a variety tools. The ultimate goal is to create a business case and a Minimum Viable Product (MVP).
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2 Weeks to complete
 

Project Type

  • Open innovation project for Cookhouse Lab members
  • Project team will consist of members from different insurance organizations

Duration

  • Sprint: 2 weeks
  • Start:  Nov 27, 2017
  • End:  Dec 8, 2017
  • Apply by: Nov 15, 2017

Insurance

  • Insurance & Reinsurance (all regions worldwide) 
  • Brokers/Agents

Target Group

  • Claims
  • Underwriting
  • IT
  • Product 
  • Marketing
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