Dealing with an insurance claim can often be a frustrating experience. That’s why forward-thinking insurance companies are looking for ways to integrate AI tools into their workflows, making claims faster and easier to handle. Allianz is one such company that is already starting to experiment with this approach.
In 2024, Allianz Technology developed the Insurance Copilot, an AI-powered solution designed to save people time and make the claims process much easier.
“Insurance Copilot is extremely helpful, like having an extra pair of hands to help claims adjusters with all the tricky cases,” explains Ali Riza Savas Saral, Head of Insurance Automation at Allianz Technology.
From Experiment to Tool
Back in late 2023, someone had an idea to use large language models and other AI language processing technologies to make the claims process much simpler. They started experimenting, and it quickly became apparent that this idea held some serious potential.
One of the great things about Allianz is that they always listen to what their customers have to say. Because of this, Allianz decided they should get feedback from end users so that they could improve the Insurance Copilot even more, which was a huge decision that truly paid off.
“We originally designed Insurance Copilot for high-value claims, but we soon noticed that our users started taking advantage of the Insurance Copilot to automate boring, repetitive tasks and draft emails extremely quickly, which made it the perfect tool for handling insurance claims,” said Saral.
The tool can gather data, analyze documents and images, and highlight discrepancies if claims don’t match policy details. On top of that, it can also draft emails, saving employees time and energy.
Allianz is just a single example of how AI tools can be integrated into everyday insurance work, while generative AI for insurance with Dedicatted can offer a different route for companies that want to apply this technology to their own workflows.
See also: How Technology Is Supporting Smarter Healthcare Diagnostics
Humans Still Call the Shots
While the Insurance Copilot makes handling all that paperwork a breeze, there are certain things that only a person can do. Human experts are still the ones who decide if the claim gets approved and how much money you’ll get, which is a “human-in-the-loop” approach, meaning that key issues still need to be resolved by a human.
At the beginning, the Insurance Copilot was only being used to simplify processes that involved automotive claims, but it quickly became apparent that it could help out the Allianz team in other ways, so they used the Insurance Copilot for property claims too, which was a huge success.
