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AI helps insurers modernize submission intake and claims processing
Risk & Insurance highlights two priority use cases for AI in insurance, submission intake for revenue growth and claims processing for operational efficiency.
Artificial intelligence is starting to deliver measurable improvements for insurers, with Risk & Insurance pointing to a shift away from legacy systems and manual workflows toward more modern, AI-enabled processes.
In submission intake, the outlet reports that AI can translate unstructured applications into structured data, helping carriers and brokers filter submissions according to risk tolerance, profiles, scope of business, and niche focus. Origami Risk Chief Product & Technology Officer Ryan Cantor said the approach can effectively increase insurers’ “at-bats” by expanding the set of submissions they can evaluate while modeling risk scenarios.
Claims processing is also seeing change as AI is applied to operations at the back end of the business. The article notes that successful adoption goes beyond purchasing tools, requiring insurers to rethink how they approach technology across the organization.
Cantor emphasized that parts of the insurance industry have long relied on tightly coupled, on-prem and off-prem systems, where even testing regression can be costly, often requiring six-figure expenditures. He said AI is creating new opportunities for modernization, but results depend on overcoming entrenched habits and moving to a more modular technology approach.