AI for Insurance with iTuring.ai
Insurance
Every year, global insurers report trillions of dollars received from premiums. As the industry continues to grow, insurers can maximise market share, refine processes, reduce overheads and increase margins. On the other side of this, is the increase in losses due to fraudulent claims, challenges in offering a seamless customer experience across distributor channels, and wasted marketing spend on unproductive customer segments and markets. Insurers who fail to adapt, expose themselves to losses.
AI for Insurance
Increase Customer Acquisition, Manage Risks, Reduce Churn & Optimize Claim Management
Leveraging disruptive AI technology lets insurers take prompt and accurate decisive actions that minimise loss due to fraud and reduce costs, while maximising customers and growth. iTuring.ai enables insurers to develop and operationalize machine learning models that rapidly generate predictive insights within hours. This result in higher conversions, better underwriting, efficient claims management, accurate fraud, and policy lapse risk mitigation.
15% improvement in accuracy and 7% reduction in false positives over existing ML models at one of India’s largest private life insurers in India with over 10 million policyholders.
iTuring.ai helped a leading general insurance company in India improve customer retention by 16% and reduce revenue leakage by 9% with accurate policy lapse prediction
Improved claim assessment and settlement efficiency by 32% for a leading General Insurance Company in Asia
Reinvent Insurance with iTuring.ai
- Identify the most profitable customers
- Predict dealer and direct revenue
- Personalize cross sell and up sell suggestions
- Enable effective risk assessment
- Accurately identify claim abuse and fraud
- Create risk specific pricing models
- Refine marketing campaigns
- Predict non-renewals across segments
- Identify early indicators of policy lapse
- Enable straight-through claim processing
- Forecast claim volumes, optimize resources
- Predict claim severities and loss potential
Contact us to find out more
Unlock the power of AI with iTuring.ai!