The insurance industry is increasingly using artificial intelligence (AI) to automate simple and repetitive tasks, such as data inputting, which add relatively little value in the overall process but are rather time consuming for their staff.
AI has been proven to be particularly suitable for high volume, low complexity lines of business, such as car and home insurance. In many other lines of business, AI was not considered as those lines were often viewed as too complex to be automated by computers and algorithms.
MS Amlin Marine NV (MSAM) nevertheless was keen to see if AI could be used to increase the efficiency of its marine claims activities– an area previously seen as unsuitable for this technology. MSAM turned to omni:us, a Berlin-based end-to-end claims automation provider, to see if a collaboration between these two companies, each of them with their own speciality, could help achieve this objective.
MSAM’s goal was to see if parts of the complex marine classes could be automated. If successful, this technology could be implemented in other departments and lines of insurance.
In less than five months, omni:us was able to demonstrate that the tailored AI service it created for the MSAM’s claims function was robust, accurate and user-friendly.
The aim was to use AI to automate at least 80% of the claim registration process. Upon receipt of the first notification of loss (FNOL), the AI was able to extract different information such as: who has sent the information; if the claim is within the terms of the policy; and if it is within the cover period.
The gathering of information, performing a number of checks, setting up a claim in our system and triaging the claim to the correct handler would previously be dealt with by a claims assistant.
Adoption and integration of AI
The first task was for omni:us to determine which parts of the claims process could be automated. Training was given to the relevant MSAM staff to ensure that the AI could effectively be integrated into their existing claims processes. After extracting the data, the AI was retrained for MSAM-specific tasks, after which the omni:us evaluated whether the automation solution was working well. This scoping, testing and integration over a period of nearly five months helped to build a bond of trust between omni:us and the MSAM claims teams.
The result of this automation is that claims staff no longer need to key in FNOL data. Data quality is improving as a number of checks have been automated and more time is freed up to take on more complex tasks which require human decision making. They have also been trained to further finetune the AI solution to analyse which more difficult tasks the AI can be used to solve.
“Our goal is to make the claims process as seamless and efficient as possible, and our partnership with omni:us is an important step in that direction,” said Daniella De Lint, Claims Director of MSAMand MS Amlin Insurance SE. “Not only have we seen a significant increase in efficiency and accuracy in our claims process, but we have also been able to improve the overall experience for our policyholders. We are excited to continue to expand the benefits of the omni:us solution to other lines of business and further improve our ability to serve our customers. Collaboration with innovative companies like this is a key to our success and the future of our industry.”
“Marine insurance is widely regarded as one of the more complex segments of commercial insurance, making this collaboration particularly noteworthy,” said Thomas Hauschild, CEO of omni:us.
“Our cutting-edge claim automation technology is designed to simplify the process for both insurers and policyholders and partnering with such a reputable insurance company like MS Amlin is a testament to its effectiveness.”
