AI and connectivity to public services are the main trends in insurance

Digitalization of the insurance industry, widespread introduction of artificial intelligence and connectivity to public services will allow insurance companies to achieve a reduction in time of loss settlement, liquidating the document processing costs and improving the efficiency of client service. The managing director of SberLife Insurance Evgeny Shcheklanov spoke about these issues at the “Claims & Pays 2023 Loss Settlement in insurance” Conference.

As Yevgeny Shcheklanov noted, interaction with the citizen state registry office allows already in 69% cases to make decisions on the payment of the death risk without expert participation. However, building the same work on all other risks requires connection to other government services.

“Our ambitious goal – for its implementation we are setting up interaction with public services and  electronic document management – is resolving 90% requests from our customers in 1-5 days”, Evgeny Shcheklanov said.

According to him, reducing the terms of customer service is also possible due to application of AI technologies with the possibility of self-training, which determines the likelihood of the occurrence of insurance events, and can also be used as computer vision, i.e. checking and distinguishing documents sent by customers.

In SberLife Insurance, the process of processing documents sent by policyholders is already robotized. AI is also capable to analyze the events taking place in human life and on this basis, for example, to propose an optimal period for policy rollover. It allowed to increase the level of prolongation of mortgage life insurance policies in the company by 20-30%, the expert added.

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