The significant benefits of AI - industry examples
The insurance and banking industries are harnessing the power of Data, Analytics and AI to develop deep insights that deliver substantial value to insurance businesses and customers.
Fraud Detection
USD 30m p.a. Savings
25% reduction in fraudulent claims
Fraud Detection
USD 20m p.a. Savings
20% reduction in claims processing time
Customer Personalisation
USD 12m p.a. revenue
40% increase in policyholder retention via personalisation.
Optimised Sales Channels
25% increase in agent sale conversion & 18% increase in premium value
30% p.a. revenue increase from agent channels.
Churn Reduction
15% p.a. reduction in customer churn via upselling/cross-selling