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AIA: AI-Enabled Underwriting and Claims Transformation

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28 March 2023
Donald Light

Winner of Celent Model Insurer 2023 Award for Data, Analytics and AI

Abstract

A perennial challenge, for insurers seeking to realize the value that AI can provide, is finding a way to integrate AI-powered analytic findings into operations.

AIA’s AI-enabled Underwriting and Claims Transformation project provides two outstanding examples of how this can be done.

This is a story of two initiatives, each of which solved a significant business problem by integrating analytic findings into operations. AIA’s AI-enabled Underwriting and Claims Transformation project provides two outstanding examples of how this can be done.

  • AI-powered medical/computational intelligence (CI) insurance pre-underwriting: broadening the pool of profitable prospects for two simple medical products.
  • AI-enabled A&H claims straight through processing: substantially increasing the portion of medical claims that are straight through processed in what had been a paper-based environment.

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