Customer Driven Claims Processing using AI and Robotics

On 3–5 November 2017, the Widgetlabs team were part of Insurtech Hackathon by Startupbootcamp in London and took care of the Tech mentoring of the participants.

In 48 hours of brainstorming, prototyping, customer validating and inventing, the 14 participating teams produced ideas in and around the claims process and how it can be augmented with AI.

All winners and ideas can be found on Twitter from @sbcInsurTech, see e.g. the winning team ClinClaim on the bottom of this page.

Here, however, we briefly want to summarize two learnings from this weekend we spent with these talented ideators, designers, and coders.

1. Strong focus on customer interaction. Think about the customer and put her in the center of any application. A smoother, more natural and technology driven customer communication, e.g. using chat-bots, is the solution of choice to ensure a hassle free claims management process.
2. AI is not a mere a nice to have, but the core of the ideas. Whether it is a chat-bot handling customer requests, an AI analyzing your voice for your intent and sentiment, or analyzing images and videos for the damages on your property, AI lies in the heart of all approaches for the insurer of tomorrow.
3. Insurers are fascinated by Blockchain and the opportunities that it offers, however, have been struggling to find fitting use cases. Now Blockchain has found its way into the insurance hackathons with very interesting use cases and more will follow.