Swiss Re ClaimsGenAI

Verification pending

by Swiss Re · Reinsurer

Market unit: Global

no ratings

Generative AI solution that automates aspects of insurance claims handling. In its first year it generated over 1,000 alerts for potential irregularities, contributing to a multi-million fraud-savings pipeline.

Generative AIAnomaly detectionNon-life reinsuranceProperty insurance

Compare this solution Website

AI capability and maturity

AI capability level

UnderstandGenerateReasonDecideActCollaborate

Capability Maturity Score (CMS)

4 / 6

Business Adoption Score (BAS)

4 / 6

AI Development Index (ADI)

16 / 36

See more information and theoretical background

Business context

Purpose of use: Automate claims handling and surface irregularities for investigation.
Value chain steps: Claims managementFraud detection and prevention
Insurance branches: Non-life reinsuranceProperty insurance
Application scope: Internal only
Business criticality: Business critical
Country or market unit: Global

Value and impact

Added value category: Cost reductionEfficiency gainRisk reduction

Technical details

AI category: Generative AIAnomaly detection
AI platform provider: Self-hosted
Cloud provider: Multi-cloud
Automation level: 3/5
Estimated IT difficulty: 4/5

Compliance and governance

EU AI Act risk category: High risk
EU AI Act role: Provider
Relevant policies: EU Artificial Intelligence Act

Metadata

Development type: Scaled application
Go-live date: Jun 1, 2024
License model: API service
Original source: https://www.swissre.com/risk-knowledge/advancing-societal-benefits-digitalisation/how-generative-ai-is-transforming-insurance-claims-claimsgenai.html

Subscribe to view full details

You have reached your limit of free solution views this month. Upgrade to Professional for unlimited access.

View plans

Community

Average rating

0.0 · no ratings

Comments

No comments yet. Be the first to comment.

Related solutions

ZurichIQ GenAI Platform

by Zurich Insurance Group

Switzerland

Modular generative AI platform deployed across multiple markets and embedded in claims, underwriting, legal, and employee productivity functions. The suite includes AgentIQ for agents and brokers, PolicyIQ and ProgramIQ for policy wording and comparison, GuidelineIQ for underwriting adherence, ClaimsIQ for coverage and fraud detection, and VoiceIQ for service centre performance.

Generative AINatural language processingIndividual life insuranceCollective life and occupational pensions+14

Collaborate

no ratings4826

Clearspeed Voice-Based Risk Assessment (Zurich UK)

by Zurich Insurance (UK)

Zurich UK — the British market unit of the Swiss-domiciled Zurich Insurance Group — uses Clearspeed's voice-based risk assessment for early fraud detection and claims validation in property/P&C and warranty claims. Zurich reports that around 58% of claims were paid out faster, more claims were withdrawn, and roughly 20% more fraud referrals were achieved. Implemented via partner Allied Universal.

Anomaly detectionMachine learning and predictive analyticsProperty insuranceMotor vehicle insurance

DecideAI Development Index (ADI) 20/36

no ratings0110

Zurich Zara Claims Bot

by Zurich Insurance (UK)

AI claims chatbot that guides customers through first notice of loss and provides triage for motor and property claims.

Conversational AINatural language processingMotor vehicle insuranceProperty insurance

GenerateAI Development Index (ADI) 20/36

no ratings592