GenAI for insurers

Transform business processes, increase customer satisfaction

Into the future with GenAI

The data-driven revolution

Future-proof insurance companies are developing into data-driven companies as part of the digital transformation. This allows them to create efficient business processes along the entire value chain and benefit from flexibility and competitiveness.

Generative AI (GenAI) is a door opener to ‘data-driven insurance’: Not only can the technology analyse large amounts of data and recognise patterns, it is also able to generate new data and develop innovative solutions. GenAI opens up significant growth potential - especially through customer-centric systems based on artificial intelligence (AI). But where is the best place to start?

Would you like to welcome GenAI to your bank?

Executives from 40 companies in the German financial sector took part in our major GenAI survey and delivered a clear result: banks see themselves well positioned for the future with Generative AI.

We have summarised the results for you.

To the study

Four key areas of action for data-driven insurance

On your way to becoming a data-driven company, these four key areas of action are crucial for success:

1. Increasing maturity

Increasing maturity by modernising the data & analytics systems: Modernising these systems lays the foundation for a data-driven organisation.

2. Customer centricity

Improving customer centricity through data optimisation: The targeted use of data enables a systematic improvement of the customer journey, which leads to a stronger focus on the needs of customers.

3 AI in business processes

Digital transformation to automate and accelerate business processes through artificial intelligence (AI): Digital transformation makes a significant contribution to increasing agility and competitiveness by automating and accelerating business processes.

4. Change management

Successful change through holistic change management: Change management is becoming increasingly important in all areas of activity. Successful change requires not only technological adjustments, but also the professional management of change processes.

Regardless of where you currently stand in the individual areas of activity, you will quickly realise added value when transforming your business processes with GenAI, especially at the interfaces to your (potential) customers.

Our GenAI use cases in the insurance industry

The functionalities of GenAI are diverse: from intelligent real-time search functions for sales and call centres to the automated classification and processing of documents. adesso offers you tried-and-tested use cases with which you can optimise your insurance sales, for example via automatically generated answers, personalised customer interactions and precisely tailored information in the advisory process.

Best practices - from lead generation to customer care

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Knowledge agent

GenAI provides intelligent, real-time search functions for sales staff or call centre employees during consultations, for example on product descriptions or insurance contracts. By analysing customer enquiries and accessing extensive databases, the AI generates customised answers - for more efficient and better quality customer interactions.

Call centres

Call centres based on GenAI (known as VoiceBots) use artificial intelligence to enable individualised conversations and customer interactions without the need for time-consuming modelling of dialogues. The AI continuously analyses customer data and dynamically generates suitable answers and solutions in real time. This leads to more efficient and personalised interactions that increase customer satisfaction.

Automated classification and processing

GenAI is used to automatically classify and process documents such as PDFs, faxes, emails and image files. The technology increases process speeds and improves the quality of information by extracting and structuring relevant data. Thanks to this automation, insurance companies can work more efficiently and optimise their decision-making processes, for example in claims management.

Next-best-action applications

GenAI can be used to develop next-best-action applications based on the analysis of publicly available news. These applications identify potential events such as major investments by corporate customers. By analysing news sources in real time, insurers can react quickly to relevant information and derive appropriate action strategies to strengthen their customer relationships and exploit opportunities for business growth.

Sentiment analysis

GenAI is used to perform sentiment analyses on free text customer feedback. By analysing customer comments and ratings, hidden added value can be extracted from the available data. The technology enables insurers to gain better insights into customer needs and preferences in order to continuously improve their products and services and increase customer satisfaction.

ChatBot - generation of personalised responses

GenAI can generate personalised responses to customer enquiries and, based on keyword analyses, direct customers to the right employees if necessary. This enables a quick and precise response to customer enquiries. The personalised approach improves the efficiency of customer service and the overall customer experience.

Summarisation, quality check, translation and comparison

GenAI is used to generate, summarise, review, translate and compare text elements and documents. This makes it possible to quickly process and prepare complex information, improving efficiency in various areas such as research, translation services or quality control. By automatically analysing and editing texts, insurers can save time and resources and increase the accuracy of their results.

Our offer

Talk to us about your current challenges on the path to data-driven insurance in a no-obligation discussion. We will be happy to outline how GenAI can help you solve these challenges. Would you like to find out more about our GenAI use cases in insurance sales? Then request our showcases and experience how GenAI can increase customer satisfaction.

Do you have questions?

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