Many insurance claims require manual inspection to assess the damage, leading to a long wait for pay out. This can cause claim amounts to spike out of control as well as result in a significant drop in customer satisfaction and potential decrease in retention rates.
Determine which claims need to be manually inspected using DataRobot to automatically build extremely accurate predictive models. By autopaying claims when manual inspection provides little or no value, you can close claims more quickly–driving costs down and increasing customer satisfaction.
Click a button and build the most accurate model to predict whether manual claim inspection will lead to savings.
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Insurance companies are using machine learning and AI to increase top and bottom line through gaining competitive advantages, reducing expenses, and improving efficiencies. They are optimizing all areas of their business from underwriting to marketing in order to make data-driven decisions to lead to increased profitability.