AXA UK rolls out machine learning tool to streamline complex property claims

BETSIE (Buildings Enhanced Triage Steering Intelligence Engine) uses machine learning to streamline processes around complex property claims.

During a six-month pilot of the BETSIE tool there has been a 25% reduction in escape of water claims being re-routed.

AXA expects this new tool will bring benefits to both customers and claims handlers, including significant cost reduction for claims.

AXA UK has rolled out a new machine learning tool to help streamline and accelerate complex property claims. BETSIE (Buildings Enhanced Triage Steering Intelligence Engine) increases the speed and accuracy of claims resolution by capturing essential data points and simplifying the claims triaging process.

The tool, which was built inhouse by AXA, uses data, analytics and historical learning to accelerate decision-making and support claims handlers in identifying the most suitable triage route. This enhances customer experience as fewer questions need to be asked and the potential for rework, delays and further costs are reduced.

A recent six-month pilot of BETSIE with escape of water claims saw around 1,300 claims processed and a 25% reduction in claims being re-routed due to the tool’s improved accuracy.

More than 50% of household escape of water claims are now being processed using the tool and this number is increasing each month. In the coming months, BETSIE will be used across AXA’s property claims, including fire damage, escape of water and weather-related claims such as flood and storm damage.

Using advanced machine learning will enhance AXA’s ability to settle claims quickly and reduce the overall cost of claims through utilising the optimal triage route at the beginning of the claims process. Over 100 claims handlers are now trained in using the tool and are benefiting from a solution which helps them make the correct decisions for customers more quickly.

Waseem Malik, Executive Managing Director of Claims at AXA UK commented, “At AXA, we are always working on improving our claims processes and to utilise data to optimise claims outcomes. BETSIE provides us with a fantastic opportunity to make quicker, more advanced decisions for customers. The changes that AXA has already made to our triaging routes in escape of water claims has led to significant cost savings and improved cycle times for our customers, and I'm really excited about the opportunities and benefits that BETSIE will bring across the spectrum of property claims. Not only will this tool help us triage claims based on data and past outcomes, it will also enable our teams to make the right decision the first time for customers.”

Authored by AXA