Insurance technology: underwriting, claims, distribution, and risk analytics.
Claims Automation
Automated claims processing and settlement systems
The field
At a glance
Definition
Automated claims processing and settlement systems
Technologies
AI photo assessment estimates damage costs from images. NLP processes claim documents and medical records. Fraud detection AI identifies suspicious claim patterns. Automated adjudication settles routine claims without human review. Virtual inspection enables remote damage assessment via video.
Applications
AI estimates auto damage from photos submitted by policyholders. Fraud detection flags suspicious patterns across claims portfolios. Virtual inspection conducts remote property damage assessment. Automated adjudication settles simple claims (broken windshield, minor theft) without human involvement.
Market and funding
Insurance claims processing represents the largest operating expense for insurers. The global claims management market exceeds $15 billion.
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