There has been a lot of talk about possible uses of artificial intelligence (AI) in the insurance industry. And GlobalData Financial Services notes that Keoghs has now launched the first AI lawyer, which could be a game-changer for the processing of claims.
The new tool has been given an online persona, Lauri, and will initially be used for straightforward claims such as whiplash.
As well as offering a faster and cheaper service, one of the main benefits of the system is that it does not require clients to integrate and learn new technology.
Lauri utilizes natural language processing to comprehend and communicate over email, meaning clients will continue to interact with Keoghs in the same way. It works alongside Keoghs’ case management system tracker, which means Lauri could potentially be applied across a range of claims types and services in the future.
The Ministry of Justice has been working with the insurance industry to reduce costs, speed up settlement claims, and create smoother processes for several years, resulting in the introduction of its claims portal in 2010 and a number of other initiatives. It should welcome Keoghs’ embrace of AI.
The potential of this technology remains to be seen, as more technical claims – especially liability claims – will still require human lawyers for the foreseeable future.
However, it is certainly a huge development, and as insurers become more comfortable working with AI platforms we will see more integration in a sector that is yet to embrace the technology.