Stefaan Lambrecht, our presenter at the upcoming DecisionCAMP, just wrote: “For years, insurers have been trapped in a frustrating pattern. Business teams generate innovative ideas, but implementation depends on lengthy development cycles. As a result, many promising concepts are postponed, reduced in scope, or abandoned before they are ever tested with real data.” Then he describes the creation of an AI Agent when an insurer wanted to introduce a new coverage option.

“Within a few minutes, an AI Agent was configured and instructed —in plain language— to act as an experienced travel claims specialist. We then created a simple business flow that asked the AI to analyse the policy conditions, the customer contract and the claim statement, and to determine all information needed for a claims assessment. No coding was involved.

Was the policy active? Was the customer covered? Did the incident occur during the insured period? Was the object eligible for the new Platinum treatment? Were all special conditions satisfied?

The AI extracted the information and explained its reasoning. The final acceptance and compensation decision was then applied automatically according to the insurer’s business rules.

The entire solution was deployed and executed in about twenty minutes.” Link