AI boosts insurance claim accuracy by 14 times, helps customers faster: Report
New Delhi [India], June 23 (ANI): Artificial Intelligence (AI) is transforming the insurance sector, helping companies work faster and more accurately, according to a new research report by Policybazaar.
The report showed that AI has improved claim accuracy by 14 times, making a big impact on how insurance is handled today.
The report explained that claims are the most important part of any insurance policy, and AI is now playing a major role in identifying potential fraud cases early. In Term insurance plans, around 11 per cent of cases are flagged by AI for possible fraud.
