At re:Invent a year ago, Accenture and AWS announced joint investments to accelerate client cloud migration and industry differentiation. With the increasing demand for commercial underwriting, it is clear that insurance will lead the way.
in AWS re:Invent 2022, Anand Premsundar And we’ll discuss how innovation is transforming the experience, processes, and decision-making of core insurance functions: underwriting and claims.
Across the insurance industry, we are seeing significant advances in the use of cloud and AI in insurance claims, especially auto claims. IoT crash detection, APIs, and intelligent solutions Speed of payment Enabling the transformation of insurance operations desired by insurance customers, Structural cost reduction Insurance companies need it.
The next area undergoing major change is underwriting. Many underwriting processes remain highly manual, especially in industries that rely heavily on intermediary distribution through agents and brokers.
Workflows between insurance agents and insurance companies typically involve manual creation of PDF files. Intelligent ingestion and automation tools are available so agents and insurers can focus on revenue generation instead of spending time on administrative tasks.
Join us at re:Invent
Anand and I are excited to present at re:Invent. We hope you can join us, either in person or virtually. Register virtually.
Why use AI for insurance underwriting and claims?
Tuesday, November 29, 2022 | 5:00 PM Pacific | PRT271 – Wynn – Bollinger
Accenture and AWS are building innovative solutions that transform the experience, processes, and decision-making of core insurance functions: underwriting and claims. Accenture is unlocking new sources of value for customers, agents, brokers, and carriers by delivering powerful, industry-contextual solutions built into AWS services. In this session, you will learn how all of these co-developed solutions are integrated into insurers’ desktops to deliver value by reducing cycle times, enhancing digital experiences, and improving claims settlement accuracy. Also, see how these solutions can help carriers and brokers at each stage of the wholesale underwriting funnel, from acquisition and triage to prioritizing quotes based on bid propensity.
Transforming claims and underwriting with AI: Applied in conjunction with humans, AI has emerged as a key differentiator in the insurance industry.
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