Artificial Intelligence (AI) is transforming the insurance industry, particularly in claims processing. As of 2025, AI-driven tools are automating up to 50% of claims, according to industry estimates, streamlining what was once a time-consuming task.
How It Works
- Fraud Detection: AI algorithms analyze patterns in data to flag suspicious claims, reducing fraudulent payouts.
- Speed: Simple claims, like minor auto accidents, are processed in minutes using image recognition and natural language processing.
- Customer Experience: Faster resolutions mean happier policyholders, with chatbots handling initial inquiries 24/7.
