P&C insurance
Achieving profitable business growth in property and casualty insurance requires balancing the need to meet evolving customer demands with adherence to strict procedural standards.
Sharper Customer Acquisition and Enhanced Customer Experience
IITLabs empowers automated customer selection and retention strategies using its Assistive AI module. This advanced system identifies detailed patterns across multiple dimensions and adapts over time, providing deeper insights with every data update.
- Streamline customer acquisition and retention using the adaptive Assistive AI module, which continuously evolves with new data insights.
- Drive higher conversion rates and maximize ROI from sourcing channels.
- Guide sales teams toward engaging the most profitable customers and aligning them with the best-suited products.
- Boost “Share of Wallet” through optimized micro-strategies that enhance channel performance.
- Increase opportunities for upselling and cross-selling by leveraging targeted nudges from Assistive AI.
Streamlined Underwriting for New and Rollover Vehicle Cases
Leverage IITLabs’ deep organizational knowledge to classify rollover vehicle cases efficiently, facilitating swift acceptance or flagging potential issues early in the process.
- Improve risk categorization accuracy from the outset.
- Prevent fraud and misrepresentations during customer acquisition.
- Enhance distribution efficiency and reduce channel loss ratios.
Automated Auto Claims Settlement Without Human Intervention
IITLabs offers a fully automated claims settlement solution that provides real-time approval decisions, minimizing the need for manual oversight.
- Reduce manual intervention in processing straightforward claims.
- Standardize claim settlement outcomes to minimize decision variance.
- Enhance channel satisfaction by reducing turnaround times (TATs) and boosting engagement.
- Minimize financial leakages and improve overall loss ratios.
