A year ago at re:Invent, Accenture and AWS announced a joint investment to accelerate cloud migration and industry differentiation for our clients. Increasing demand in commercial underwriting made insurance the obvious industry to blaze the trail.
At AWS re:Invent 2022, Anand Premsundar and I will talk about how innovation transforms experiences, processes, and decision-making for the core insurance functions of underwriting and claims.
Across the insurance industry, we are seeing a great deal of progress in the use of cloud and AI in claims—especially in auto claims. IoT crash detection, APIs, and intelligent solutions are delivering the speed to settlement insurance customers want and enabling the operational transformations and structural cost reductions insurance companies need.
Underwriting is the next area in which major transformations are taking place. Many underwriting processes are still highly manual, particularly in lines of business that rely heavily on intermediary distribution through agents and brokers.
Workflows between insurance agents and underwriters typically involve manual creation of PDF files. Enabled with intelligent ingestion and automation tools, agents and underwriters can focus on generating revenue rather than losing time on administrative tasks.
Join us at re:Invent
Anand and I are delighted to be presenting at re:Invent and we hope you can join us either in-person or virtually. Register to attend virtually.
Why use AI in insurance underwriting and claims?
Tuesday, November 29, 2022 | 5 p.m. Pacific | PRT271 – WYN – BOLLINGER
Accenture and AWS build solutions that innovate to transform experiences, processes, and decision-making for the core insurance functions of underwriting and claims. Delivering powerful, industry-contextualized solutions embedded in AWS services, Accenture is opening up new sources of value for customers, agents, brokers, and carriers. In this session, learn how these co-developed solutions—all integrated into the underwriter desktop—deliver value by accelerating cycle times, enhancing digital experience and improving settlement accuracy in claims. Also discover how these solutions can help carriers and brokers at each phase of the high-volume underwriting funnel, from ingestion and triage to prioritization of quotes based on propensity to win.
Transforming claims and underwriting with AI: AI has emerged as the critical differentiator in the insurance industry when applied in tandem with humans.
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