An Automated Insurance Management System with AI
About the company
Andersen was approached by a leading insurance broker based in Germany. It's a family-run company that provides a variety of insurance solutions to end clients operating in such segments as manufacturing, eCommerce, and transportation. Additionally, the customer works with individual clients. The company takes pride in its reputation, standing, and the ability to offer tailored and innovative solutions to address diverse insurance needs.
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Business Context
The customer sought to build an advanced solution to efficiently manage its insurance-specific workflows with end clients and accurately forecast and prevent the causes of complex claims by using artificial intelligence and machine learning. Andersen, thanks to our expertise and skill sets, was the ideal choice to build this AI-driven insurance industry solution.
Challenges
The range of challenges Andersen was asked to address when developing a new software solution for the insurance industry included:
- The absence of an internal system to manage legal documents;
- Insufficient technological support for seamless workflows and fully informed account management;
- The lack of a foundation for AI-driven projects.
Project overview
In a nutshell, we were tasked with engineering a CRM system that would enable insurance specialists to easily access and search for client information, providing a comprehensive view of client history and interactions. The resulting insurance agency management system was expected to include an overview of both past and current data, as well as AI-driven projections for the future.
About the project
The project was initiated to provide insurance advisors with immediate access to crucial data, enabling them to make informed decisions and offer a more personalized client experience. In essence, the mission of the requested automated insurance management system was to streamline and refine the entire process of creating, managing, and monitoring insurance policies.
App functionality
As a result of Andersen's contribution, the customer received the following functionalities, among others:
- Streamlined policy creation. Insurance advisors can effortlessly input necessary information, select appropriate coverage options, and generate policies;
- Integration of insurers and partners. Users can add various insurers and partners to the system, linking them directly to specific policies;
- Automated invoicing. The insurance agency management system automatically generates invoices based on issued insurance policies, simplifying the billing process, minimizing errors, and ensuring timely payments.
These functionalities transformed the way the customer manages their insurance processes, enabling them to deliver a higher level of service while optimizing internal operations and available company resources.
Solution
With the software solution for the insurance industry Andersen developed, insurance advisors have become significantly more effective. They can now swiftly view and retrieve legal data, effortlessly create insurance policies, and handle invoices with ease, enhancing both productivity and service quality.
Project results
The tangible results brought about by Andersen encompass:
- A user-friendly and intuitive interface designed to simplify workflows and enhance usability for insurance advisors;
- Higher operational efficiency achieved through multiple advanced functions and the integration of AI;
- Personalized client experiences enabled by detailed data and insights.
Having established the foundation, Andersen is continuing its engagement with the customer by refining the application’s design and addressing various complex integrations and dependencies.
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What happens next?
An expert contacts you after having analyzed your requirements;
If needed, we sign an NDA to ensure the highest privacy level;
We submit a comprehensive project proposal with estimates, timelines, CVs, etc.
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