on-site evaluation, he’s guided through
that process by a thoughtful AI assistant.
The mobile phone-based AI assistant
and computer vision scan Mr. Johnson’s
room. The technology sees and documents the damage and asks relevant questions based on what it sees and doesn’t
see — just like a professional would. As
this happens, the data gathered flows into
the insurers’ system. Most importantly
for Mr. Johnson, it’s fast, easy and offers
immediate stress relief.
For the carrier, the AI does the work
of a professional without needing one
on-site. AI watches the video scan, au-to-extracts key details and information,
and generates a report. It adapts or reacts
based on things it sees or doesn’t see about
certain items or conditions. It can ask for
clarification when needed, such as getting
a closer image of an item or capturing the
manufacturer’s label on an appliance.
When this AI-guided self-inspection
is complete, thorough documentation
and a report are available to the insurer,
enabling faster claims decisions.
AI as a subrogation partner
Subrogation is a significant financial
opportunity for carriers, and this new
industry-specific AI allows them to pursue it quickly. Historically, carriers were
forced to question everything causing
significant expense or choose only what
were considered obvious subrogation
cases. In addition, there was no opportunity for consistency or accuracy because detailed investigations were not
In the Johnsons’ kitchen, the AI gathers
detailed information about the failure
around the dishwasher during the self-in-
spection. Based on the characteristics of
the failure and the components involved,
the AI uses forensic knowledge and data
to assess the subrogation potential, esti-
mate the expenses for investigation and
shipping and determine whether these
metrics meet the carrier’s requirements to
pursue subrogation. These predictive an-
alytics can be a powerful tool for insurers
to make consistent and accurate decisions.
For claims handlers, it gives an efficient
way to obtain subrogation claim referrals
or documentation to close the files that
have little chance of recovery.
The potential to eliminate claims
But what about the future of insurance? What if Mr. Johnson was able to
avoid his late-night frustration and the
AI’s true power: it makes the insurance experience more proactive and
valuable for policyholders. In addition
to offering faster claims management
and subrogation guidance, AI can help
Remember that dishwasher in Mr.
Johnson’s kitchen? If he had done a simi-
lar, simple self-inspection during renewal
or post-bind, the AI would have matched
the risk relative to the components
present in the kitchen, plus it would have
made suggestions as to how the potential
risks could be mitigated. Think of how
grateful Mr. Johnson would have been
if he had received a proactive warning of
a recall or discount for a new dishwasher
before he had to deal with water damage.
This application of AI can be a powerful ally in managing insurer’s risks, as
well as an effective boost to customer experience. By creating new relationships
with policyholders, and understanding
what’s in their homes earlier in the process, carriers have the potential to transform the claims experience — and maybe
eliminate it altogether.
David Riggs ( email@example.com) is
vice president of strategic initiatives for
Donan. Laurie Kuhn ( firstname.lastname@example.org) is
co-founder and COO of Flyreel.
… insurance companies are often
unable to deliver an exceptional
experience today because the process is
inefficient, expensive and time-consuming.
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