Insurance Innovation Using AI Tech: How Artivatic is disrupting Insurance?
Insurance Innovation Using AI Tech: How Artivatic is disrupting Insurance?
Insurance is one of the most lagging behind industry in terms of Innovation but for last 3 years, Insurance sector is seeing the growth. In recent times, the awareness for insurance among the millennial population is steadily growing. While earlier people used to shy away from insurance, today, individuals are choosing to insure their life, health and other belongings through different life and non-life insurance plans. While motor insurance is compulsory, term insurance, ULIPs and health insurance products are also finding favour among many. That’s why the Indian insurance market has seen a positive growth over the last years. Even within the last year itself, insurance companies have posted impressive growth in the total amount of premium collected by them.
In the digital age, Insurance processes are needed to be redefined and need to launch solutions that are quick, easier and efficient. Simplified, real-time and efficient #customerservices with lowering the cost of #communication infrastructure will play a key role in the success of #insurance business.
To have same vision, Artivatic has end to end Insurtech solutions to enable Insurance companies, brokers and individuals to change the way they think, buy, asses risk and get claims.
Some of the Artivatic’s Solutions are here:
KYC & On-boarding
Underwriting Automation
Customer 360 Profiling
Alternative Data & Digital Customer Profiling
Claims Automation: Life, health & General Insurance
Health & Life Claims
Vehicle Accidental Claims
There are many other solutions like Signature Verification, Invoice Processing, Financial Analysis, Health analysis, Document reading, fraud detection, risk profiling, IoT based insurance, Facial Recognition, Fire/Property Claims, Survey process, Point of sales and more.
YouTube Channel: https://www.youtube.com/channel/UCChbo4eHULyNerDjAWGHVYA/videos
These solutions can be used as APIs, SDKs as well on-premise.
The important aspect of these new age innovative solutions are to enhance the way insurance value chain operates.
Customer Experience
Operational Efficiency
Low cost
High Penetration
Instant Insurance Issuance
Automated Claims
Increase in conversion
High ROI
Digital & Data driven processes
New age product planning
Reduction in risk & fraud
On-demand health premiums
Preventive Healthcare for Insurance
Artivatic.ai has developed Insurtech AI infrastructure for Insurance, brokers and others to utilise full-stack or APIs driven solutions to launch data driven products & processes efficiently at scale. If you are an insurance, broking & distribution company, Let’s talk. You can reach at contact@artivatic.ai or call at 080 41502526
Original Article can be viewed here: https://www.linkedin.com/pulse/insurance-from-legacy-innovation-experience-layak-singh
Layak Singh, Founder & CEO Artivatic.ai was also speaking during Nasscom GCC 2019 towards Insurance 2030.
Technology Publication for Insurance, Health & Insurtech Products
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