How AI is Driving the Digital Transformation of Insurance Companies
With the digitization of many aspects of life, vast amounts of user data are being accumulated, which can be processed efficiently. The insurance industry, heavily reliant on data, has significant potential for the implementation of artificial intelligence (AI).
When analyzing Big Data, AI considers an almost unlimited number of parameters and sifts through countless significant factors. This enables highly accurate predictions. Continuous learning from past customer data and identifying hidden patterns allows companies to offer personalized policies for each insured individual, accurately calculating the potential cost of services and products.
AI Expansion for Digital Transformation of Business Processes
The data collected and grouped by AI is a vital and essential resource for insurance companies. AI is used in areas such as:
Sales and Marketing: Based on data analysis regarding demand for insurance products and customer experience, decisions are made to create relevant insurance offerings.
Claims Management: Neural networks automate the processing of claims and decisions on payouts, improving efficiency in handling customer requests.
Fraud Detection: Comprehensive analysis of documentation through AI effectively identifies suspicious schemes and dishonest clients.
Business Process Automation: AI takes over routine tasks, allowing employees to focus on strategic matters.
Risk Assessment and Loss Forecasting: AI uncovers patterns and relationships in client data, enabling more accurate financial management and positively impacting company profitability.
Personalized Insurance Policies
Insurance policies are often standardized, with companies offering average coverage options. Integrating the KinesteX AI assistant promotes physical activity anytime and anywhere. By collecting data on users’ physical conditions during exercise and transmitting it to the insurance company, AI helps offer personalized coverage options.
Wellness and Activity Maintenance Programs
With AI technologies, insurance companies can offer unique preventive wellness programs to their clients, thereby reducing the likelihood of claims.
In addition to collecting and transmitting data, KinesteX AI helps clients maintain good health, reducing the risk of claims. The platform includes a database of 430 exercises designed for various fitness levels and disciplines, from yoga to strength training.
Additional Features of the Smart Assistant Include:
- Convenient video tutorials for each exercise embedded in the database
- Tracking of workout progress: repetitions, calories burned, errors, and steps taken
- Tips and support from the AI trainer based on camera analysis
- Safe processing of client data
These features make KinesteX AI a powerful tool for maintaining health and activity, while also expanding the interaction between insurance companies and their clients.
Integrating the AI Trainer into the Application
KinesteX AI offers module integration for platforms such as:
- Flutter
- Swift
- React Native
- Kotlin
- PWA (Progressive Web Apps)
- JavaScript & HTML
The SDK integration with insurance applications takes up to 1 hour, and basic integration through the KinesteX AI admin panel for custom design takes 15 minutes.
Integrating solutions like KinesteX AI expands the capabilities of insurance companies, allowing them to offer unique preventive wellness programs. As a result, insurance companies gain a tool for creating personalized products tailored to the needs of specific customers, increasing client satisfaction and driving long-term market success.
