The Mumbai-based insurer, a joint venture between the Liberty Mutual Insurance Group, Enam Securities, and DP Jindal Group, says that the introduction of the claims processing platform will improve the ‘speed of claims settlement’ and offer ‘improved customer experience’.
The introduction of the tool comes in the wake of India’s post-pandemic recovery, which has seen a surge in vehicle sales, as well as air and road travel.
The automated platform will support the processing of several aspects of the claim settlement process, including providing accurate, standardised claims assessments and calculating settlement amounts. The platform will also offer 24/7 support for customer queries and is integrated with Liberty General Insurance’s LivMobile phone app, enabling customers to report claims, upload documents and photos, and obtain settlement status via their phone.
AI will create a ‘frictionless’ claims settlement process
“The platform will help us create a frictionless and smooth claim settlement experience for our customers. The automated platform will increase customer satisfaction and prove a differentiating factor when our channel partners pitch our service offerings,” added Mr Rahul Sharma, President – Claims, Liberty General Insurance.
Mr Roopam Asthana, CEO and Whole Time Director, Liberty General Insurance added that the company was ‘confident’ that the tool would ‘further our objective of providing a differentiated claims management experience to our policyholders’, and that they would ‘continue to evaluate and invest in’ new technologies to improve the experience of customers, partners, and stakeholders.
Niels Thoné, Co-Founder and Chief Growth Officer of Sprout.ai, and Joanne Richardson, former Health Director at AXA, discussed how AI can be used to drive innovation in the claims process in a webinar covered in ITIJ’s August 2022 issue.