The DIA (Digital Insurance Agenda) 2017 took place in Munich on 15 and 16 November. The event was a meeting place for innovators from the insurance industry and InsurTech, and was the venue for CED's presentation of its own InsurTech innovation - artificial intelligence (AI) and CED Connect claims handling.
Show & Tell
The DIA is about innovations which have been proven in practice, and CED had been selected as one of the companies topresent their implemented innovations. CED presented in conjunction with CED Connect, its in-house InsurTech operation, where 6 out of 10 claims are handled on a fully automated basis. While the average current car claim handling period is about 36 days, CED business developers Hamza Jap-Tjong and Adel Kadric demonstrated during their 'Show & Tell' session that the use of artificial intelligence can reduce processing time to just 5 minutes.
CED Connect is already one of the most advanced platforms for automated processing. Said Commercial Director Marcel van Dijk: "Our ambition is to use technology to make manual, time-intensive claims procedures as redundant as possible. We have already come a long way, but we want to fully automate 99% of our claims handling. By introducing artificial intelligence at CED Connect, we are once again taking a big step forward in this regard. It enables us to calculate claim amounts automatically, based solely on photos, and will enable better fraud detection. And although AI now applies most specifically to car claims, it's only a matter of time until AI will be applied to all claim categories".
DIA: InsurTech and FinTech inspiration
DIA is the world's largest conference for insurers seeking a unique opportunity to get in touch with more than 50 innovative new-technology providers, on the verge of bringing positive disruption to the insurance industry. Following successful conferences in Barcelona and Amsterdam, Munich was definitely the place to be in November for inspiration in the areas of InsurTech and FinTech.