Use Cases In
Insurance Industry

Underwriters spend significant time manually reviewing applications and related documents...

Accurately predicting the probability and severity of future losses is fundamental to...

Static annual premiums may not accurately reflect fluctuating risk exposures. LLMs can...

Documenting the reasoning behind underwriting decisions (acceptance, rejection...

Assessing risk for commercial clients often requires gathering information from...

Commercial underwriting submissions can involve hundreds of pages of documents...

Training new underwriters effectively requires exposing them to diverse and complex...

Ensuring underwriting files are complete, consistent, and adhere to guidelines before...

Claims files contain vast amounts of unstructured text in documents like...

Assessing property or vehicle damage traditionally requires physical inspections

Organized fraud rings often submit multiple claims with subtle variations or shared...

Many claims are straightforward with low value and clear liability (e.g., minor glass damage)...

Claims handling involves significant communication: acknowledgement...

Auditing closed claim files to ensure adherence to procedures, accurate payments...

Adjuster notes contain rich, unstructured details about claims handling, challenges...

Following a catastrophic event (hurricane, wildfire), insurers face a surge in...

Policyholders frequently inquire about the status of their claims, generating high call...

Recorded calls between adjusters and policyholders contain valuable information...

Customers may not always know the optimal coverage for their situation. LLMs can...

Navigating online forms for quotes, payments, or policy renewals can...

Handling customer complaints effectively is crucial for retention. LLMs can automate...

Serving a diverse customer base requires support in multiple languages, which...

After a call or chat interaction, agents typically spend time manually summarizing...

Instead of waiting for customers to reach out, insurers can use LLMs to proactively...

Maintaining a consistent brand voice and tone across all customer communication...

Fraudulent claims often exhibit subtle deviations from normal patterns. LLMs can...

Fraud can occur at the application stage through material misrepresentation...

The way a claim is described or communicated can sometimes contain clues to...

Identifying hidden relationships between claimants, providers, attorneys, or other...

Training robust fraud detection models requires large amounts of diverse data...

Building and maintaining actuarial models often involves significant coding...

Actuarial models (pricing, reserving) typically require structured data inputs...

Incorporating external factors (e.g., economic trends, climate data, social inflation...

When facing complex or novel actuarial problems (e.g., pricing a new type of risk...

Actuaries often need to communicate complex findings to business leaders...

Generic email blasts have low engagement. LLMs can analyze customer data...

Website visitors represent potential leads, but qualifying them manually is inefficient...

Existing customers often represent the best opportunity for new sales. LLMs can...

Creating clear, compelling, and compliant descriptions for insurance products...

Independent agents and brokers may lack dedicated marketing resources. Insurers...

Keeping track of new regulations, amendments, and guidance across multiple...

Understanding compliance obligations often requires interpreting complex...

As AI adoption grows, regulators increasingly expect insurers to have robust governance...

Issuing policies involves generating standardized documents like declarations pages...

Keeping up with internal communications, meeting minutes, and lengthy reports...

Many administrative processes still involve manual data entry from unstructured...

For multinational insurers, sharing documents like training materials, process...

LLMs facilitate the design and implementation of more personalized and...

Implementing new insurance products often requires configuring core...

Understanding how the business might perform under various adverse scenarios...

Traditional risk assessment often relies on structured data, potentially missing crucial context...

The "one-size-fits-all" approach to insurance is becoming outdated. Customers increasingly...

Underwriting manuals and guidelines can be lengthy, complex, and frequently updated...

Unintentional bias in underwriting, whether human or algorithmic, is a...

Applicants often find insurance applications lengthy and repetitive. Manually entering...

Location is a critical factor in property risk (e.g., exposure to floods, wildfires, crime)...

Effective communication and information sharing between underwriters and the...

The initial reporting of a claim (FNOL) often involves phone calls or complex web...

As claims progress, files can become voluminous with notes, correspondence...

Insurance fraud drains significant resources. LLMs enhance fraud detection by analyzing...

Incoming claims vary greatly in complexity and urgency. Efficiently routing...

Determining a fair and consistent settlement amount requires considering policy...

Identifying opportunities to recover claim costs from responsible third parties...

When claims enter litigation, legal teams must review extensive documentation...

Some initially minor claims can unexpectedly escalate in severity and cost. Early...

Before processing a claim, adjusters must verify that the loss is covered under...

Claims data often resides in multiple legacy systems and diverse formats (databases...

Customers often have questions about their policy coverage, deductibles, limits...

Insurance policies are often filled with technical terms and complex language...

A significant portion of customer service interactions relates to billing questions...

Customer service in insurance often requires empathy, especially during...

When customers interact with human agents, agents often need to look up...

Customer feedback from surveys, call transcripts, chat logs, and social media contains...

Resolving a customer's issue on the first contact (FCR) is a key metric for service...

Helping customers understand insurance better can build trust and lead to more...

Fraudulent claims may contain conflicting information across different documents...

Submitting duplicate claims for the same loss or reusing components...

Not all claims warrant the same level of scrutiny. LLMs can analyze multiple...

Detecting fraud as early as possible minimizes losses. LLMs can be integrated into...

As generative AI tools become more accessible, fraudsters are using them to create...

Identifying errors or inefficiencies in complex actuarial code can be challenging...

Actuarial reports (e.g., reserving studies, pricing analyses, regulatory filings)...

Peer review is a critical part of the actuarial control cycle. LLMs can assist in the...

Thorough documentation is essential for transparency, repeatability...

Regularly comparing actual experience (e.g., claims frequency, severity) against...

Crafting effective ad copy and social media content requires understanding target...

During sales calls or meetings, agents need to ask the right questions and address...

Staying informed about market dynamics and competitor strategies is crucial...

Understanding which sales messages or content pieces resonate most effectively...

Preparing and submitting regular compliance reports to regulatory bodies...

Insurance policy documents must comply with specific wording requirements, disclosures...

Internal audits verify adherence to policies, procedures, and regulations...

Insurers rely on numerous third-party vendors, and ensuring these vendors...

Employees across departments need quick access to internal information like...

Onboarding new employees requires providing them with substantial...

Drafting internal memos, announcements, or policy updates requires clear...

Developing successful new products requires understanding gaps in the market...

Launching a new insurance product requires creating extensive documentation...

Insurers face growing threats from emerging risks that are difficult to model...

Managing the overall risk profile of the insurance portfolio and optimizing reinsurance...