Insurance companies have the one thing AI requires to be successful — data. Machine learning has the ability to make that data actionable. By reviewing data from closed claims, machine learning algorithms can identify both straightforward claims for automatic processing and complex claims that are more likely to require human intervention. By identifying commonalities in closed claims that resulted in litigation, it could predict which new claims might take a similar path and recommend preventative measures.
ML6 built a chatbot that can handle insurance claims in 3 seconds. No human involvement is required to make decisions for simple claims. A chatbot can support clients 24/7 with seamless conversational UI, handeling thousands of claims at a time.