Universal Somop Introduces AI-Powered Tools for Expedited Motor Claim Settlements

In an era where technology is reshaping every facet of business operations, the insurance sector is not left behind. Universal Sompo has taken a significant leap forward with the introduction of two innovative AI-powered tools, ‘Universal i Assess’ and ‘Universal i Gen’, aimed at streamlining and expediting motor claim settlements. These solutions mark a transformative step towards integrating digital technologies into the insurance claims processing workflow, promising an unprecedented level of efficiency and accuracy.

The Future of Claims Handling: Universal i Assess

The first of these pioneering tools, ‘Universal i Assess’, employs a suite of advanced technologies such as neural network image processing, analytics, machine learning (ML), and natural language processing (NLP). This amalgamation of technologies enables real-time, seamless assessment of vehicle damages – a process that traditionally takes days can now be completed in minutes.

Surveyors, armed with nothing more than a smartphone, can capture images of the damaged vehicle. The AI-driven system springs into action, utilizing neural networks to analyze the photos, identify the vehicle’s details (such as vehicle number, make, and model), and pinpoint the damaged areas. It doesn’t stop there; by assessing the severity of damage to each part, the system autonomously generates a claims estimate. This not only expedites the settlement process but also significantly curtails the likelihood of fraudulent claims by providing objective, data-driven assessments.

Embedded within the surveyor’s app, ‘Universal i Assess’ serves as an invaluable tool, enhancing the efficiency of processing motor-own damage claims through a comprehensive mobile interface. This leverages the prowess of AI to empower surveyors, enabling them to execute their tasks with an unprecedented level of precision and speed.

Streamlining Customer Experience with Universal i Gen

Parallel to ‘Universal i Assess’, Universal Sompo has unveiled ‘Universal i Gen’, a tool embodying the latest in AI and ML capabilities. This tool revolutionizes the manner in which policyholders are updated about their claims. By integrating with multiple digital platforms, including IVR (Interactive Voice Response) systems and WhatsApp, it provides real-time updates and a 360-degree view of claims processing. This level of digital integration streamlines the process, transforming the customer journey from satisfactory to delightful.

In addition to offering real-time updates, ‘Universal i Gen’ facilitates a seamless communication channel between policyholders and the insurer. This initiative is geared towards breaking down barriers traditionally encountered during the claims process, ensuring a smooth, uninterrupted flow of information.

Revolutionizing Claims Settlements with AI

“At Universal Sompo, we’re incessantly identifying and employing groundbreaking programs to refine and expedite the claims processes for our policyholders,” remarked Sharad Mathur, the Managing Director & CEO of the company. His vision reflects a keen understanding of the transformative potential of AI and ML in reshaping the landscape of insurance claims settlements.

With the deployment of ‘Universal i Assess’ and ‘Universal i Gen’, Universal Sompo is not just streamlining the claims process; it is effectively redefining the standard for customer experience in the insurance domain. By breaking down communication barriers and leveraging cutting-edge technology, the company aims to ensure seamless settlements, thereby elevating the satisfaction and trust levels among its policyholders.

The integration of these AI and ML-powered tools into the claims settlement process exemplifies Universal Sompo’s commitment to innovation and its determination to lead by example in the digital transformation of the insurance sector. As these technologies continue to evolve, the promise of even more rapid, efficient, and transparent claims handling processes becomes a tangible reality for policyholders.

The initiatives by Universal Sompo epitomize the future of insurance claims processing, where technology not only amplifies operational efficiency but also enhances the customer experience. It’s a vivid demonstration of how artificial intelligence and machine learning are not just buzzwords but practical tools driving significant improvement in industry standards.

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