The video features the insights from a newly-funded AI company that promises to revolutionize the insurance industry by using artificial intelligence for claims processing. The company prides itself in building a technology-driven model based on AI and data, which allows them to process claims reportedly in as quick as three seconds.
In the wake of rising concerns around data privacy, the company underscored that trust has been a long-standing challenge in the insurance industry. In response, it has created a unique business model to ensure alignment with their customers, by eliminating the traditional conflict of interest that exists when insurance companies deny claims.
The customer experience is radically different from traditional insurance companies – done through an app or website, the process is seamless, paperless, and instantaneous. The use of AI not only transforms the customer experience but also significantly lowers costs, promising dramatic savings for younger, first-time insurance buyers.
