Global insurers receive trillions of dollars from premiums, and year-on-year increases in consumer spending. As the industry continues to grow, the opportunities increase correspondingly. Insurers have the opportunity to maximise market share, reach new, untapped markets, and also refine internal processes to reduce overheads and increase margins.

 

On the other side of this growing market, is the increase in losses due to fraudulent claims, challenges in offering a seamless customer experience across distributor channels, and wasted marketing spend on unproductive customer segments and markets. Insurers who fail to adapt expose themselves to losses.

 

Technology-led disruption changes the nature of insurance risk and creates opportunities. Leveraging disruptive AI technology lets insurers take prompt and accurate decisive actions that minimise loss due to fraud and reduce costs while maximising customers and growth.

Transform the insurance industry with CyborgIntell

For the insurers who seize opportunities to improve their operations using AutoAI, the outcomes can be tremendously beneficial. Using iTuring AutoAI platform, data can be quickly processed to provide valuable and accurate predictions. These allow quick and actionable decision making that results in positive outcomes.

 

The iTuring AutoAI platform gives insurers the power to effectively manage a wide variety of problems. Within hours, predictions can be made that can result in higher conversions, better marketing, seamless customer management, accurate fraud identification and policy lapse risk.

  • Detect Insurance Fraud and Avoid Abuse

    • Accurately identify claim abuse, fraud and anomalies
    • Detect and prevent application fraud
    • Supplier and provider abuse detection

  • Improve Risk Assessments and Approve Times

    • Assess broker and provider risks
    • Anti-money laundering (AML) risk scoring
    • Support underwriters to effectively assess risk exposure
    • Pricing analytics and optimization

  • Improve Customer Acquisition and Retention

    • Refine marketing campaigns
    • Retain high value existing customers
    • Identify early warnings for policy lapse
    • Accurately identify potential leads and insurance required

The CyborgIntell Impact

Accurate and predictive

 

iTuring AutoAI’s AI agents automatically understand the data and apply the correct techniques to improve the quality of the predictions, building the most accurate machine learning algorithms.

 

iTuring AutoAI offers continuous learning to improve predictive accuracy in real time. When one model’s accuracy degrades, the system recognises that and prompts the business user to implement a new, more accurate model.

Fast and actionable

 

iTuring AutoAI’s single-click end to end AutoAI platform is a powerful tool for analysis and prediction and puts the power of data science in the hands of business users, regardless of complexity.

 

With no technical skills required, iTuring AutoAI is easily deployed in real time, providing results instantly. It allows business users to enable EnterpriseAI, build various applications for solving different use cases and make actionable decisions based on predictive intelligence.

Explainable and trusted

 

iTuring AutoAI produces predictions that can be easily interpreted. It explains the logic behind why specific transactions are flagged and how those decisions were reached.

 

iTuring Auto AI provides compliant and transparent model documentation. This allows teams to better understand the data engineering and model selection process, aiding in the rapid implementation of the algorithms.

Contact us for a demonstration of the iTuring AutoAI platform that will propel your profitability, service and business forward.