Insurance Without Hassle: How Automation Is Making Claims Less Painful

By Sameet Gupte

In Insurance, claims processing has historically been a huge pain point for both insurers and the insured. Marked by surmount paperwork, manual data input, slow processing, and, in many cases, even a lack of transparency, it has often resulted in frustration, delays, and increased costs of operation. The struggle is over; agentic automation is bringing a true transformation. For decades, insurance claims have been notorious for their complexities; it is like a necessary evil that customers endured rather than embraced.

Now, it is a thing of the past.

Automation is enabling the insurers to settle claims quicker, typically from weeks to mere days and often within a few hours. What does this mean for a policyholder? Less waiting period and more certainty during critical times.  

The Claims Bottleneck: A Systemic Problem

Take a typical insurance claim, for example, from the moment when the loss is first registered to when the claim reaches its final settlement, there is a variety of activities: data collection, validation, damage evaluation, fraud detection, communication with interested parties, and regulation. Each of these approaches, however, is subject to the limitations of human users in terms of error, ineffectiveness and long-term intervals. 

For customers, this typically means longer waiting times in emergencies, resulting in irritation and a likelihood of them having a poor impression of the insurer. For insurers, they are labour-intensive, high in operating costs, inconsistent in time taken to produce, and are not scalable. Yet the scale and complexity of unstructured data, ranging from claim forms and medical records to accident photos and repair estimates, presents a daunting obstacle. 

Mining relevant information from this plethora of sources, cross-referencing it, and vetting for its accuracy is a time-consuming and error-prone activity with a significant impact on the speed and fairness of claims adjudication.

Enter Agentic Automation: A Cognitive, End-to-End Approach

There has been a seismic shift, making real-time decisions, learning from data, and adapting to complexities. This isn’t just efficiency; it’s cognitive evolution. At EvoluteIQ, we have turned this vision into a measurable impact across global insurers.

Imagine this…

It’s 3 am… a motorist is stranded after a minor accident. Traditionally, claims would wait days. With agentic automation, it can be filed, assessed, and processed by intelligent agents quickly and seamlessly. EIQ {aMa}powered platform deploys purpose-built AI agents to automate document validation, risk analysis, and even customer chat, scaling operations while only involving humans at key junctures.

Proof Points That Speak for Themselves

This isn’t hypothetical. We’ve deployed agentic automation across major insurers globally, with measurable outcomes.

In London’s speciality insurance market, the EIQ platform revolutionised error-prone processes for aviation, marine and cargo slips. Legacy systems merge seamlessly, the audits are solid, and cycle times shrivelled from days to minutes; slips are efficiently processed, allowing brokers to focus on strategy, not admin. 

Similarly, a top UK motor insurance company utilised our solution for real-time churn propensity analytics. This proactive identification of churn-risk customers led to targeted retention activities. The numbers: decreasing customer churn by 65%, up to 71% improvement in overall process efficiency, and increasing customer satisfaction by 30%, channelling possible departures to satisfied, loyal customers.

EIQ platform automates various end-to-end insurance processes, including underwriting, claims management, and customer service. Through process automation, data flows, RPA, and enterprise connectors, we enable complete automation of customer service processes. Legacy system integration ensures smooth transitions while reducing manual effort, eliminating task duplication, and improving operational efficiency across the entire insurance lifecycle.

We have seen firsthand how automation doesn't just improve efficiency; it unlocks entirely new possibilities for customer service, risk management, and operational excellence. For policyholders, this transformation means one simple thing: insurance that works when you need it most. No more endless paperwork, no more weeks of uncertainty, no more feeling like you're fighting your own insurance company. 

The Insurers today face a choice. Continue optimising around the edges, or reimagine the business around intelligent, responsive, and scalable operations. The latter is not a moonshot. It’s happening now. And those who act decisively will define the next decade of competitive advantage in the industry. 

Automation isn't just changing how insurers operate; it's restoring trust in an industry that has long struggled with customer satisfaction. 

(The CEO & Co-founder, EvoluteIQ)

Disclaimer: The opinions, beliefs, and views expressed by the various authors and forum participants on this website are personal and do not reflect the opinions, beliefs, and views of ABP Network Pvt. Ltd.

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