Artificial Intelligence to automate insurance receivables
Thursday, 05 25 2017, Category: Technology, Country: Germany
Insurers can increase customer retention and reduce cost by automating the receivables processes with artificial intelligence (AI) technology, claims collectAI.
The German company, part of Germany’s largest retailer, the Otto Group, is targeting the insurance sector offering an automated, self-learning technological solution based on artificial intelligence (AI) to make debt collection more efficient, reduce costs, improve cash flow and increase customer retention rates.
“Large amounts are invested in customer acquisition. It costs insurers up to £30 per customer. Interestingly there has been virtually no investment in retaining the customer once they go into the dunning process,” Steve Emecz, chief commercial officer at collectAI, told Intelligent Insurer.
Source: Intelligent Insurer