Combining AI with the Human Touch

The Magic of AI Complete

“Computers can handle massive amounts of data and do wondrous things with it. But they require a steady flow of new quality data and exposure to human decision-making processes to make them the viable, trustworthy, long-term partners we know they can be.” -Laurent Lefouet, The Cognitive Automation Community 

Artificial intelligence (AI) has been around for decades. Yet as with most digital technologies, it has seen a rise over the course of the pandemic. And while the insurance industry can sometimes get a bad rap for being late to adopt new tech, recent years have proven different. According to Arturo, “research suggests that many insurance carriers are willing to concede that they are slow to adopt digital approaches, but the tide has turned in the past five to seven years.”

At Comsearch, we’ve always made it a priority to embrace new technologies as they come available. The way we see it, anything that will help us serve our clients better is worth investing in. That being said, we know even the most advanced technologies still aren’t advanced enough to replace the human touch. And we’ll let you in on a secret: they may never be.

AI & Claims Processing

AI is on the rise across a variety of industries, with experts predicting it’s large-scale use to add “as much as $15.7 trillion to the global economy by 2030.” Why? Because AI’s speed in data processing, including the spotting of key patterns within data, is unmatched by humans. 

When it comes to insurance, the case for AI is clear. While manual claims processing can sometimes take days, AI-assisted processing can take hours. This uptick in efficiency is a no-brainer for insurance companies looking to keep up with rising policyholder demands and stay ahead of their competition. 

Auto Claims

Virtual, “touchless,” or “photo-based” estimating is an approach that has seen significant rise since the pandemic. In fact, a study by LexisNexis Risk Solutions reported that virtual claims handling has now ‘settled to a level of a little over 60%.’ With the use of photos shared by the customer or vendor and databases containing vehicle, repair and historical claims information, AI technology can auto-generate estimates for appraisers’ review. This saves significantly on time spent in the field and allows them to complete more estimates per day.

Property Claims

Much like with auto claims, AI has been able to streamline the property claims process as well. Using visual intelligence technology, property insurance providers are able to review and identify the cause of a customer’s claim without spending as much time onsite. This process and technology is only improving. According to Nasdaq, “McKinsey describes a future where insurance companies leverage AI, IoT devices, drones, and smart sensors to largely automate and replace the traditional, manual methods of inspecting claims.” This is critical especially during adverse weather events, when claim volume is high and accessibility to properties is compromised. 

The Human Touch

While AI systems are highly useful and key to the future of insurance claims, they still require a level of human attention. AI systems are only able to mimic human cognitive function, meaning they are fully reliant on human direction in order to function. To put it simply, the output is dependent on the input. So if the input of data is inaccurate, or the algorithm is imperfect, it can be difficult to put 100% faith in the end result. Unlike AI, human beings are able to leverage their senses in order to understand context, see the big picture, and detect (and correct) inaccuracies. 

“AI-based machines are fast, more accurate, and consistently rational, but they aren’t intuitive, emotional, or culturally sensitive. And, it’s exactly these abilities that humans possess and which make us effective.” – Harvard Business Review

As we consider the future of AI, one school of thought is that AI should come to augment human intelligence, not replace it. 

“The more we consider AI and the automation of complex decision-making processes, the more we realize that people and machines each have their own strengths and weaknesses. By cooperating with one another, we can leverage our positive qualities to maximize productivity, efficiency, innovation and financial results. But by dividing our work, we limit possibilities for mutual growth and achievement.” -Laurent Lefouet, The Cognitive Automation Community 

As our industry continues to embrace new technologies, the way businesses choose to leverage their staff’s human intelligence will set them apart. 

The Magic of AI Complete

At Comsearch, human intelligence is at the core of our newest service, AI Complete. AI Complete takes the best parts of AI (speed) and supplements it with our best qualities (incredible customer service and accuracy you can trust). The way it works is simple: our dedicated APD claims experts validate every AI-produced estimate to ensure every line item is complete, accurate, and that any missed damage is assessed. You can get all the details here, or contact us today to get in touch.