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Insurance Companies: Embracing A.I.

Updated: Jan 10


Insurance is apart of our everyday lives, and the current systems in place, of filing a claim and waiting or someone else to get back to you, are the same systems from when insurance first became widespread. Artificial intelligence is up and coming in many sectors, including the insurance sector. Chatbots and artificial intelligence programs and systems are being formed and tested to help lessen the amounts of effort and time needed to file a claim, and to get results.


Artificial Intelligence and Insurance

Currently, artificial intelligence is being used for claims that include property damage and casualties. The A.I. assistant would be available to assist clients 24/7, meaning that they would be more reliable and much more convenient than an actual employee. Claims would be submitted remotely, and the A.I. would immediately begin to process and manage them, arrange reimbursement payments, and even finding qualified contractors for the client. Instead of calling out an employee to see the damage done, photos of damage can be quickly and easily submitted to help calculate the damage costs in a much faster manner than before. An example of this can be found with Southwest Business Corporation (SWBC). SWBC is a very diverse financial services company that provides a wide range of insurance, mortgage and investment services to financial institutes, businesses and individuals. After realizing that they needed a better way to serve their customers, Ask Emily was born in 2012. Ask Emily is available 24/7 to answer questions and to assist SWBC’s customers to enable them to solve their loan-insurance issues on their own schedule. Before Ask Emily, the only way to ask SWBC questions was through calling, and now, only 4% of questions asked actually require live help. Ask Emily can help people set up accounts, see if they qualify for loans, and much much more. A.I. systems in insurance programs show many obvious benefits and better outcomes than insurance programs without.


Nextit’s Promising Chatbots

Along with working out claims, A.I. in the form of chatbots can help answer simple questions that clients might have about their insurance plans, and/or how their insurance providers would deal with certain situations. Chatbots are actually being used more and more frequently, especially those from one upcoming company, Nextit Insurance. Nextit is a conversational A.I. system that has been assisting enterprises for over 20 years in order to serve their customers and employees better. One of their partners, the United States Army, uses their technology in the recruitment process. SGT STAR is a virtual assistant mainly used at goarmy.com to help answer common questions and to point potential recruits in the right direction. SGT STAR has a 94% accuracy rate, and he has answered over 16 million questions in the past 12 years. Nextit has also partnered with Amtrak, a very widespread railroad service. Amtrak partnered with Nextit in 2012 to create Julie, a chatbot found on Amtrak’s website, and since then, Julie has helped the company and its customers in astounding ways, including saving millions of dollars spent on customer service emails. Julie can answer thousands of questions about Amtrak’s services, finding and booking a train, and even helping customers book hotels and cars at their destinations. Chatbots and similar technology are helping to change the way that people apply for loans, book trips, and so much more.


Artificial Intelligence is on the rise in many things that we see on a daily basis, including cars, public transit, websites, and so much more. As we continue to grow and develop technology, most of the things that we see on an everyday basis will eventually be evolved to fit our new mindset.

Works Cited

“Amtrak Tickets, Schedules and Train Routes.” Tickets & Reservations | Amtrak, www.amtrak.com/home.html.

“Comprehensive Financial Services ForIndividuals | Businesses | Financial Institutions.” SWBC, www.swbc.com/.

“Insurance | Artificial Intelligence (AI) Virtual Assistants.” Next Insure IT, nextinsureit.com/.

“New Career Opportunity! SWBC Has an Opening for a Wealth Advisor in San Antonio, TX. Find out More:” How Technology Is Making Fast Food Even Faster,

www.jobs.net/jobs/swbc/en-us/job/United-States/Wealth-Advisor/J3G0FB6S5X9TD54CV3Q/.

“An Intelligent Interface That Is Ready When You Are.” Next IT, nextit.com/case-studies/amtrak.

“An Intelligent Interface That Is Ready When You Are.” Next IT, nextit.com/.

“An Intelligent Interface That Is Ready When You Are.” Next IT, nextit.com/case-studies/swbc.

“An Intelligent Interface That Is Ready When You Are.” Next IT, nextit.com/case-studies/army.


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