Maximizing value with long-term AI strategies
The insurance industry is going through an exciting phase where technology is shaping the way it operates. Artificial intelligence (AI) and machine learning (ML) are disrupting the insurance value chain, covering all possibilities and challenges, and mapping them to future business goals. Its applications include, but not limited to,
For AI/ML, data is a key input for today’s fast-changing insurance world. When responding to the ever-changing business landscape, data comes to the rescue by providing information that matters the most for the business. However, the common challenge is getting the right data insights. For instance, a major challenge for property and casualty (P&C) insurers is the lack of data insights during new business generation or policy renewal.
Overcoming challenges with Coforge AI/ML solutions
Ease your data woes with Coforge’s proprietary framework that identifies, extracts, and processes semi-structured and unstructured data from multiple sources into meaningful data. These insights can be ingested into underlying systems of agent/broker portal, underwriting workbench, policy administration system, claim processing systems, etc.
Coforge’s AI/ML-based proprietary framework relies on artificial intelligence, machine learning, natural language processing to help customers reach the data that empowers them to take strategic decisions and jumpstart the business. It helps insurers in discovering meaningful data to transform business digitally. It automates the tasks and provides the much-needed resource–time to be utilized to create higher value in the insurance workflow.
Many of the operational tasks of the insurers are repetitive, manual-intensive, time-consuming, and incur high operation costs.
Coforge’s AI & ML framework is helping insurers:
Coforge’s AI/ML solutions help you leverage data smartly to enhance customer experience, improve service efficiency, reduce costs, and boost sales in all segments of insurance. For instance, AI can help you gain a better customer experience and coverage personalization with a user-friendly customer onboarding system. Chatbots are employed to recognize users: personalizing sales conversation based on advanced image recognition, social data, and buying history.
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Ph: +91 (120) 459 2300
Fax: +91 (120) 459 2301
SEZ Developer Unit
Plot No. TZ-2 & 2A, Sector Tech Zone,
Greater Noida, UP 201308, India
Ph: +91 (120) 459 2300
Fax: +91 (120) 459 2301