AI AND CLOUD FOR CLAIMS PROCESSING AUTOMATION IN PROPERTY AND CASUALTY INSURANCE
Keywords:
Claims Automation, AI In Insurance, Damage Assessment, Natural Language Processing (NLP), Cloud Computing In Claims Management, Claims Cycle Time Reduction, Customer Satisfaction In Insurance, Predictive Analytics In Claims, IoT In Claims Processing, Blockchain In Insurance AutomationAbstract
The property and casualty (P&C) insurance industry is undergoing a transformative shift with the integration of artificial intelligence (AI) and cloud computing in claims processing. This paper explores the role of these technologies in automating key aspects of claims management, such as damage assessment, document processing, and decision-making. AI-powered tools like image recognition and natural language processing (NLP) enhance the speed and accuracy of claims assessment, while cloud platforms provide the scalability needed to handle large volumes of claims data efficiently. The study highlights the benefits of AI and cloud integration, including reduced claims cycle times, improved accuracy, and enhanced customer satisfaction. It also examines challenges, such as data security, regulatory compliance, and workforce adaptation, and discusses emerging trends like predictive analytics, IoT, and blockchain in claims automation. By addressing these challenges and embracing future advancements, insurers can achieve significant operational efficiencies and customer-centric outcomes.
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