Manual, document-intensive processes and legacy systems are the status quo in insurance processing today, tying up resources and creating poor customer experiences.
IQ Bot enables deep transformation of insurance processing by increasing automation rates and enabling end-to-end automation across the industry from underwriting to claims management to policyholder service.
How? As the leading AI solution for insurance processing, IQ Bot combines best-in-class AI technologies in computer vision, natural language processing (NLP) and machine learning (ML). IQ Bot is capable of processing highly unstructured insurance processing data from documents and emails.
Decrease turnaround times by 80% with AI-based automation.
Improve processing efficiencies with minimum change.
Drive credibility with faster service delivery and decreased touchpoints
IQ Bot rapidly extracts critical data to pass on to the insurer for faster processing.
Reduce costs by 80% with intelligent data extraction using IQ Bot
Document ingestion and aggregation
IQ Bot uses AI for document extraction to intelligently identify and classify relevant data from documents such as claim intake, loss notification and loss estimates. Once extracted, IQ Bot can pass data to RPA bots for further automated processing.
IQ Bot streamlines the intake of documents for risk management.
Extracted claims information can be passed to trained AI models, that work alongside adjusters. These models triage and identify high-risk claims in real-time to speed up the process for faster resolution.
IQ Bot, working together with RPA, can automate payment processing for policies.
IQ Bot integrates with chat bots to provide instant customer service help, eliminating queues and increasing customer satisfaction. It helps aggregate data across multiple databases and legacy systems for a rapid ticket resolution.
"Our key objective, when we embarked on the robotics journey, was to free up our team members from routine, repetitive activities."
— Lori Pedersen Manager in IT Global PMO Hitachi Vantara