AI-Powered Claims Processing
Top Singapore Insurer
KEY IMPACT
Cut processing times by 60% and improved fraud detection rates by 30%.
The Challenge
Singapore's top insurer wanted to speed up claims processing and detect fraud more effectively. Manual claim assessment was taking 5-7 days per claim, fraud detection was reactive rather than proactive, and customer satisfaction was suffering due to slow processing times.
Our Solution
Designed ML models to automatically assess claim severity and flag anomalies, integrated into their existing systems. Implemented computer vision models for damage assessment from photos, natural language processing for claim description analysis, and ensemble models for fraud detection. Seamlessly integrated with existing claims management system.
Results & Outcomes
60% reduction in claims processing time (from 5-7 days to 2 days)
30% improvement in fraud detection rates
Automated assessment of 75% of straightforward claims
Customer satisfaction scores increased by 25%
$2M annual savings in fraud prevention
Technologies Used
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