Artificial Intelligence and Big Data
On 7 November 2017, Insurance Consulting Group SpA, in collaboration with IL SOLE 24 ORE, organized the “XIX ANNUAL INSURANCE” at the headquarters of the 24 Ore Group in Milan.
Together with the top managers of the main companies we talked about the evolution of technology in the sector, in particular of Artificial Intelligence and Big Data.
Automatic Liquidation
Natalia Antongiovanni, Business Development Officer of Insurance Consulting Group SpA, intervened on the topic “Automatic Liquidation, Photographic Performance, Chat Bot and Digital Call Center: ARTIFICIAL INTELLIGENCE IN INSURANCE”.
We presented HORUS, an image analysis engine that, among other things, can quantify vehicle damage by analyzing the photographs of the claim in a totally automatic way, thanks to Artificial Intelligence.
Artificial Intelligence in Insurance Market
What makes Horus a front-runner in the insurance industry is its ability to read contracts and insurance related documents for fast-pacing the process of underwriting workflows.
The tool can read images, documents, invoices, and medical reports, and further identify and label them to return textual information in a storable format.Horus imitates the way the brain learns from incidents, identifying visual information contained in images.
Trained to detect insurance frauds like falsified documents and recognize manipulated images, Horus differentiates between heavy and light damages after the user uploads photos of the accident. Following the upload, Horus analyzes those images, evaluates the type of damage, estimates repairing intervention both in terms of cost and time, checks the simulated output with an expert, and finally gets the claim processed.
Horus makes it possible to process complex and mass claims automatically, without any human intervention.The tool simplifies the processes that are associated with insurance claims and reduces the time and costs that come coherently with accidents.