Since spring, CED CBC has gradually started using Athos. This is a robust system for cross border claims handling and was developed and built by CED Group itself, based on the newest technology. That facilitates the integration of Artificial Intelligence (AI), which CED – as leading European tech-enabled insurance services and solutions partner – uses in several processes.
Newly balanced process
To develop Athos, all steps in the claims process have been newly balanced, standardised, and automated. This will save costly time that claims handlers can now use for other, complex cases. The system also provides more flexibility, and it can easily be adjusted to the specifics of each country or client. And it provides a usable platform for AI applications.
Controlling cost and quality
In claims handling, there are large amounts of data involved. Because of this, this sector has a lot of potential for the use of AI. International research has shown that AI can limit the costs of damage handling by 20 to 25 percent. And money leakage (through fraud or payments outside of insurance conditions) could even be lowered by 30 to 50 percent. By letting AI applications take over repetitive, routine, administrative activities, claim handlers can use their time, knowledge, and capacity to provide real added value. By using AI, CED doesn't only meets the wishes of insurers about speed and quality of the process, but also when it comes to controlling costs. Moreover, the different AI tools generate useful data and provide valuable insights into trends.
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Successful applications
The multiple countries of CED Group have already booked concrete results with AI in their claims processes. Their focus was primarily on the large number of emails coming in on a daily basis. By using AI, these emails and their attachments are automated, categorised, and summarised. The success rate is over 90 percent. Backlog has been eliminated, and operational costs have lowered. The process is more streamlined, the turnaround time is shorter, and the end-of-line quality is higher. This directly leads to higher customer satisfaction. AI also appears successful in customer contact itself, by providing more accurate and quicker assistance to injured parties. CED in France works with voice bot ‘Audrey’, for example. She asks a few directional questions to the injured party who calls. And CED in the Netherlands is also looking for opportunities to use AI for chatbots and voice bots, to conduct triage for incoming calls.
Detecting fraud
At CED Cross Border Claims, AI is already used to index emails, and in the Athos platform to summarise cases. In Belgium, the CBC team is testing whether an AI application in Athos could also help automatically detect possible fraud-sensitive cases. And this is just the start! As CED, we are closely following these developments and continuously aim to offer our clients more efficiency and impact through innovative new services!