MS Amlin launches new AI powered claims process
MS Amlin, the Lloyd’s global (re)insurer has announced the launch of a new claims triage capability, the first in a series of developments originating from a newly formed partnership with Genpact, a global professional services firm focused on delivering outcomes that transform businesses. The partnership sees Genpact supporting a number of functions to transform MS Amlin’s processes and accelerate its ability to provide leading client service.
The new state-of-the art-triage process embeds an artificial intelligence (AI) model, which assesses and assigns claims based on certain criteria and proprietary scoring algorithms, into MS Amlin’s claims workflow. Developed between MS Amlin’s Claims team and Genpact, the solution assesses each claim for the degree of qualitative and quantitative complexity, whilst enriching the claims file with data drawn from internal databases, thereby providing claims adjusters with a more complete picture of both client and claim to accelerate the claims process. The solution was built on Genpact Cora, Genpact’s digital business platform, and uses machine learning to enable constant improvement to the system’s performance as more claims are triaged.
MS Amlin’s clients and brokers will benefit from swifter claims response times whilst also enabling the business to progress its ambitions to enhance its segmented claims resourcing model using Genpact’s dedicated MS Amlin claims team in Kuala Lumpur, Malaysia. Complex claims are being retained by MS Amlin’s London-based claims team.
Genpact will support MS Amlin across a number of teams and services. The partnership commenced earlier this year, and forms part of MS Amlin’s continued transformation to support ongoing profitability, improve operational efficiency and deliver improved client services. All developments will be designed to focus MS Amlin’s and Genpact’s knowledge and experience on areas where they can deliver the most effective outcomes for clients and improve the experience of working with, and for, MS Amlin.
Alberto Verga, Chief Operating Officer for MS Amlin said: “I am delighted this capability has gone live for our Claims team. As we continue to modernise our business, it is important to improve our operational effectiveness by enhancing efficiency, reducing cost and updating processes to support our profitability. Working with Genpact to replace time-intensive and complex processes with technology-driven solutions will enhance our financial position without making any compromises to both our underwriting and claims excellence or the service we provide our clients, partners and brokers.”
“The insurance industry is ripe for innovation, and MS Amlin – a leading insurer and reinsurer – is set to lead the charge,” said Philip Tyson, head of insurance, Europe, Genpact. “Our goal is to help MS Amlin improve their service delivery across the value chain by bringing our extensive industry expertise and AI-powered claims management platform to the claims and underwriting services that MS Amlin provides.”
Authored by MS Amlin
About MS Amlin
MS Amlin is a leading global specialty commercial insurer and reinsurer with operations in the Lloyd’s, UK, Continental European and Bermudian markets.
Comprising Mitsui Sumitomo’s London and Bermuda-based operations and the historic Amlin businesses, MS Amlin specialises in providing insurance cover for a wide range of risks to commercial enterprises and reinsurance protection to other insurers around the world.
It is wholly owned and fully supported by the financial strength and scale of MS&AD of Japan, the eighth largest non-life insurer in the world. To learn more, visit www.msamlin.com.