Artificial intelligence can transform the way insurance sector works. Through computer vision and machine learning, insurance companies can both optimize and boost their efficiency. We at AIndra are committed to providing best in class AI-based solutions to solve some of the very complex problems faced by the insurance sector.
Labour intensive risk profiling
Insurance companies in India and worldwide find it very challenging to calculate premiums with precision. Premiums are usually based on the risk profile of a property. Risk profiling requires thorough inspection by brokers or field-officers and can usually take more than one visit. Not only is this process challenging but also time-consuming, costly and prone to mis-calculations.
Claim processing is one of the main functions of an insurance company. This is a tedious process which requires manual labour and most of the times it is very difficult to identify a fraudulent claim.
At AIndra, we have a built a solution to automate risk profiling and claim settlement process for insurance companies using Artificial Intelligence.
SmartIdentification™ is an AI-powered risk inspection solution for Insurance companies. It uses Computer Vision and Machine Learning algorithms to automate property risk profiling and valuation reporting. SmartIdentification™ is currently used by ICICI Lombard, a leading insurance company in India.
- SmartIdentification™can process images captured from any camera-enabled device such as smartphones, cameras, drones and surveillance cams.
- You can conduct risk assessment on-site as well as inside the property with your portable smartphones and other hand-held devices.
- It is a cloud-based solution which allows for maximum adaptability and zero CapEx cost.
- Artificial Intelligence algorithms allow for a foolproof, self-adaptive and intelligent solution.
- Geolocation and time tagging is available for on-site property specific information.
- Highly scalable and contextualized risk inspection based on visual, contextual and historical data.
- This model is very high on scalability and is available 24x7x365.
The AIndra Advantage
- Saves cost
Almost 45% less on cost than on-site risk inspection
- Saves time
Automated claim settlement takes 75% less time than traditional claim settlement
- Detects fraudulent claims
Foolproof claim settlement reducing fraudulent claims by almost 28%