From Costly Claim To Customer Win With AI
Multi-national travel operator and insurance provider has significant costs associated with supporting claims. More than 60% of claims cost more to support than the value of the claim payout and customers were unhappy with the hassle and delays. They required a solution to reduce the support burden, automate the processes, and improve customer satisfaction.
We analysed historical claims processes, data, and transaction records to define a fit for purpose solution. From this Designed a micro services platform containing integration, AI and automation to analyse all events taking from customer support systems, real-time airline, accommodation and services data interfaces, customer accounts, and insurance policy benefits, and execute automated actions based on the AI output. The developed solution implemented an automated claim payout capability offering customers alternatives between a cash claim value (requiring additional information and steps) or a higher value credit for future travel issued automatically immediately.
Reduced Cost Support
- AI enabled automated claims processing reduced operational support for travel insurance claims by £2.5million/year
Fraud Prevention
- 25% automated detection of fraudulent claims submitted
Customer Loyalty
Proactive automated claims payouts resulting in direct attributed 15% increase of rebooking