Sompo Insurance Singapore Pte. Ltd

Identified Problem

Insurance claims processing can be time-consuming and may lead to delays for customers. There is a need to improve customer experience and turnaround time in claims processing while ensuring that no claims are delayed. Additionally, there is a need to manage costs associated with manpower in processing claims.

AI Solution

A machine learning model was developed to screen 100% of incoming claims. The AI solution is used to identify which claims need further investigation, streamlining the process.

Key Features

• The AI model screens all incoming claims.
• It identifies claims that require further investigation.
• The AI solution aims to improve customer experience and turnaround time.

Benefits of AI Solution

• The AI model improves customer experience by reducing turnaround time.
• It helps ensure that no customer claims are delayed.
• It helps achieve cost savings in manpower.
• The AI solution provides confidence in identifying claims that require further investigation.

Impact of AI Solution

• The project has shown good progress in terms of cost savings.
• The project won the AI award from the Singapore Business Review.
• The solution is planned to be deployed in Indonesia, Thailand, Taiwan, and potentially India.