AI AND ML SERVICES FOR INSURANCE

Pivot to a risk mitigation mindset and activate the power of foresight for your business with predictive analytics. We help P&C insurers analyze voluminous historical datasets — leveraging artificial intelligence and machine learning to uncover hidden patterns, risks, and trends.

Foster innovation with on-demand and hyper-personalized coverages, dynamic policies, and preventative risk management solutions with:

• Accurate forecasts of potential claims for proactive risk assessment and improved resource allocation
• Optimized underwriting of personalized policy plans to ace customer expectations
• Precise detection of potential risks by assessing multiple variables, including customer data, social media data, and demographic information.

In this data-driven landscape, personalized customer experience reigns supreme. We use AI tools to assess policyholders’ and external market data — for building connected experiences and enduring customer loyalty.

Dive into a new era of personalized insurance products and services with:

• Customized risk assessments that accurately reflect unique policyholder circumstances
• Individualized communication strategies for real-time policy updates and recommendations
• Enriched customer engagement built on a foundation of understanding and responsiveness

Risk assessment and underwriting are the foundation of P&C insurance. We empower insurers to make these processes smarter with our specialized AI-driven solutions — Underwriting 3.0 and Next Best Actions. Our cognitive models utilize advanced data techniques and proprietary analytics tools to optimize process efficiency.

Boost risk assessment and underwriting accuracy with:

• Proactive detection of risk patterns and anomalies that might escape manual analysis
• Fairer pricing for policyholders and reduced underwriting losses for insurers
• Streamlined underwriting processes that reduce processing time and expand customer coverage

Lengthy and complex claims processes can lead to frustration and dissatisfaction for policyholders and insurers. Fraudulent claims also pose a persistent threat in the P&C insurance industry, impacting loss ratios and profitability.

At HTC, we harness the power of AI to deploy a suite of modernized solutions that tackle the industry’s challenges head-on. Achieve better outcomes with our cognitive claims processing and fraud detection solutions.

Claims Processing

• Automate tedious tasks like data entry and validation for faster claim processing and reduced errors
• Empower policyholders with 24/7 access to AI-powered claim bots and digital assistants for instant guidance and timely updates throughout the claims journey
• Increase team efficiency by automating repetitive tasks to help them deliver exceptional customer service for complex claims
• Create prefilled FNOLs with our AI-enabled iFNOL solution that accepts requests in real-time and accurately assesses damage – all while seamlessly integrating with core and auxiliary systems

Fraud Detection

• Utilize ML algorithms with our AI-powered FNOL solution to identify patterns and inconsistencies or detect fraudulent claims before they drain resources
• Deploy advanced AI-powered fraud detection tools to safeguard the integrity of your insurance process
• Leverage our preventive fraud detection analytics to minimize undue payouts and fraudulent activities while improving loss ratios and the bottom line