In the world of insurance, technology is without a doubt the game changer. As we start to settle into an era defined by digital transformation, insurance companies are adapting to meet the increasing demands of their customers.
By harnessing the potential of artificial intelligence and automation, we work with established and next-gen insurers alike to improve their operations, improve risk assessment, and deliver exceptional customer experiences.
AI in the insurance industry
Artificial intelligence is reshaping the insurance landscape in too many ways to count. Assessing risks with greater accuracy, improved pricing models, personalized policies – the list goes on. By leveraging machine learning algorithms, we help insurers analyze vast datasets adapt swiftly to customer preferences.
Insurance underwriting automation
AI in insurance underwriting allows organizations to review 100% of submissions efficiently. This tech gives underwriters the space to focus on more complex cases, while routine assessments are handled automatically, improving productivity and accuracy.
Claims processing
AI in insurance claims processing makes timely and efficient claim settlements possible. We give insurers the tools to analyze claims data in a pinch, and make informed decisions – allowing companies to better serve their clients during critical times.
Predictive analysis for insurance
By analyzing historical data and customer behavior, our digital solutions enable insurers to make more accurate decisions. This foresight allows you to stay ahead of the curve and tailor services to meet evolving market demands.
AI in risk assessment
Machine learning techniques allow our team to provide comprehensive insights for risk profiling. This innovative approach supports insurers in crafting more competitive pricing strategies, and ultimately creates a more resilient insurance portfolio.
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Fraud detection with AI
Leveraging real-time data analysis and pattern recognition, we equip organizations with the tools to uncover anomalies and suspicious activities, and handle them in a pinch. This proactive stance safeguards resources and reinforces trust and integrity in the claims process.
The impact of generative AI for insurance
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A 30-page report: While insurtech startups are fast-evolving, many of their innovations have yet to reach the big insurance players. Tapping into this unique opportunity means addressing each part of the insurer's value chain.
Our clients include
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Integrating a DevOps cloud platform
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Integrating a DevOps cloud platform
Challenge:
AXA needed to transition to a cloud-based architecture, all while ensuring the quality of deliverables and accelerating product delivery. To achieve this. They looked to DevOps best practices to facilitate the migration of their applications to the cloud.
Solution:
PALO IT deployed DevOps practices – helping to "Dockerize" apps, and train the development and ops teams for cloud migration using AWS. Our team automated the end-to-end delivery chain, including coding, testing, security checks, and delivery.
70%
Faster delivery of new products.
15 apps
Migrated to a microservices architecture in the cloud.
Increased
Deployment frequency thanks to automated delivery processes.
Generative AI for insurance contracts
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Generative AI for insurance contracts
Challenge:
The insurance industry is burdened by overly complex contracts that are difficult for policyholders to understand. Managing and updating these contracts is time-consuming, with potential for human error during document comparison.
Solution:
In Clear Terms partnered with PALO IT to create DAIA, a SaaS solution leveraging generative AI to simplify insurance contracts. DAIA analyzes document quality, suggests improvements, and automates document comparison and standard contract creation.
90 seconds
Reduced document processing time down from one week.
Grand Prix
In clear terms & AXA win the Contractualization and Grand Prix at the Cas d’OR de l’Expérience Client Assurance 2024.
Automation
Freeing up operational teams to focus on more valuable tasks.
Streamlining digital delivery through Scrum
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Streamlining digital delivery through Scrum
Challenge:
AXA initiated its digital transformation by adopting Scrum as a delivery framework for its e-commerce platform. The organization needed to quickly ramp up its delivery capabilities, making it crucial to onboard the team effectively with the Scrum delivery cadence.
Solution:
PALO IT clarified the product backlog and established an agreed sprint cadence, creating a regular rhythm for the team’s delivery process for new products. Our team also provided technical training on design options and application supportability, while engaging other parts of AXA to bridge silos.
50
Countries.
1,000
Employees trained.
8
PALO IT coaches.