Gen AI in Claims - Sutherland Global Cognilink Claims

15 May 2024

Andrew Schwartz

ABOUT THE SHOWCASE

Gen AI is the hottest topic in the industry right now. Insurers are reaching out daily with questions and the need for advice through bootcamps, presentations, and requests for information about relevant vendors. We’ve created this showcase to allow insurers to see actual demos of available Gen AI products across the insurance value stream from a number of vendors.

ACCESS AND LENGTH:

The short introduction (4.13) is available to all. Click the image below to access.

The full demo (19.25) (the webinar link) is available only with vendor permission. To access the full demo, please send an email to Karlyn Carnahan kcarnahan@celent.com and we’ll request authorization. Once you've been authorized, the webinar link below will be activated for you.

This demo includes an interview by Jaspaul Saini with Ashi Bagdadi - Vice President and Global Head of P&C Insurance Practice at Sutherland Global Ltd. Ashi Bagdadi is a Vice President and Global Head of P&C (Property & Casualty) Insurance Practice at Sutherland Global Ltd. He comes with 24 years of insurance and healthcare domain and functional expertise across operations and P&L management, transformation, consulting, business development, strategy, client engagement and customer experience. He has delivered complex global transformation programs leveraging operating model, digital, tech/insurtech, advanced data analytics, shared service model and outsourcing. He has had various Insurance thought leadership white papers published and is an active panel speaker at market events. Proven track record of delivering contractually underwritten efficiency and Indemnity outcomes. His previous organizations include WNS, Syntel, EXL & Wipro.

Overview of Product:

Sutherland has a Gen AI Offering that can be used in property casualty claims. Sutherland Global has introduced its latest innovation in the realm of insurance AI, analytics, and automation: CogniLink Claims™. This cutting-edge AI-driven property and casualty (P&C) claims solution aims to revolutionize the claims journey for insurers and policyholders alike. Leveraging Sutherland's extensive expertise and over 200 patented inventions across AI and related technologies, CogniLink Claims™ represents a significant milestone in insurance technology advancement.

The current claims process within the insurance industry is often characterized by its complexity, high costs, and susceptibility to error and fraud. CogniLink Claims™ addresses these challenges head-on by streamlining processes, enhancing customer experience, and delivering unparalleled efficiency. With a focus on reducing fraud and operational costs, the solution utilizes Gen AI, Document AI and Automation to extract critical data from key documents, triage cases, and prioritize claims for faster processing.

Moreover, CogniLink Claims™ emphasizes conversation and personalization to improve the overall claims experience. By providing stakeholders with real-time updates and personalized support, the solution ensures transparency and fosters trust throughout the claims journey. Customer satisfaction is further enhanced through the integration of chatbots and Q&A assistance, leading to increased Net Promoter Scores (NPS) and employee productivity gains.

The solution also empowers insurance teams with knowledge management tools and data-driven insights to strengthen decision-making and drive continuous improvement. By harnessing the power of Gen AI and advanced analytics, handlers gain valuable customer insights and access to real-time support, ultimately improving customer satisfaction and compliance.

Furthermore, Sutherland envisions AI as a transformative force in the insurance industry, extending beyond claims management to reshape the entire landscape. The advent of Generative AI (GenAI) has expanded AI's reach and potential applications, with conversational abilities enhancing both customer and employee experiences. However, successful AI adoption requires a strategic, end-to-end approach that rethinks processes and balances AI's strengths with human expertise.

In conclusion, CogniLink Claims™ represents a significant advancement in insurance technology, promising to optimize claims processes, enhance customer experiences, and drive superior outcomes for insurers globally.

https://www.sutherlandglobal.com/industries/insurance