Artificial intelligence is increasingly used in many industries, and one of them is insurance industry. One of the market players that decided to implement AI-based solutions is PZU.
Insurers automate the customer service process
The insurance industry has a lot to gain from artificial intelligence. As the report prepared by Jupiter Research showed, insurers who decided to implement solutions based on AI would achieve savings four times higher than in 2019.
In turn, McKinsey specialists believe that by 2025 the insurance sector will be 25 percent. automated thanks to artificial intelligence. However, many questions arise as to how these changes will affect the insurance procedure in practice.
Removal of damage with artificial intelligence
PZU is one of the largest insurance companies on the Polish market. Currently, it is at the next stage of implementing artificial intelligence in the process of handling motor claims. What determines the advantage in the insurance industry today is data and its proper analysis.
Algorithm sets can not only draw conclusions, but also have the ability to self-improve. In the context of motor damage, the algorithms are designed so that they are able to determine each element of the vehicle themselves, as well as the extent of its damage and whether it is necessary to replace it or only repair it. This is due to the fact that cars have a relatively uniform shape and structure, thanks to which AI was able to learn to distinguish and identify individual elements.
Artificial intelligence has significantly accelerated the entire claim handling process. Due to the fact that part of the work is taken over by the computer, employees can devote themselves to other matters. It should also be emphasized that the final decision always belongs to the human being, however, AI allows us to deliver higher quality standards.
As Artur Kurcweil, Managing Director for Digitization at PZU emphasizes, the company has already more than 200 serviced by artificial intelligence. motor claims for a total amount of over PLN 2 billion. At the same time, communication damage is only the beginning of the implementation of artificial intelligence in the activities of the industry. Pilot projects concerning the automated handling of property damages in apartments are already underway in the world.
PZU has decided to move towards machine learning. It allows not only handling the damage itself, but also the client, thanks to solutions such as virtual assistants or chatbots. PZU was the first insurer in Poland to implement connections with a virtual consultant via the Google Assistant, which presents its clients with a travel insurance offer.
The company also has a special chatbot that answers questions about HR matters. There are many indications that artificial intelligence will revolutionize the customer service process. Based on the questions asked, chatbots and virtual assistants learn what information users are looking for, and there are plans to introduce software that will be able to recognize the emotions of the interlocutor.
Data sets are valuable, but require appropriate structuring and analysis. PZU receives thousands of cases a day, which must be thoroughly verified, with each client counting on the quickest consideration of the case. This is where optical character recognition (OCR) algorithms come in handy, along with process automation.
This means nothing more than a combination of artificial intelligence and robots. Thanks to the support of robots, employees not only complete their task faster, but also make fewer mistakes. As a result - the entire customer service process runs much more efficiently.