With the help of artificial intelligence, the workload of SberInsurance employees was reduced and the claim payment time was reduced to 30 minutes. This was reported at the international conference “Journey to the World of Artificial Intelligence” (AI Journey).
Artificial intelligence already decides 50% of applications received through the SberBank Online mobile application under the “Protect Your Finances” program.
“The artificial intelligence model analyzes the provided data based on a specific list of parameters and decides on payment. If no additional data is required, payment is made to the bank card within 30 minutes via the Fast Payment System. If the model is in doubt for any reason, the application is sent to a person for evaluation,” the message reads.
As SberInsurance Development Director Alexander Goglenko emphasizes, the company strives to offer customers the easiest and fastest way to resolve insurance claims.
“In case of force majeure, they want the problem to be resolved as soon as possible, and we understand this very well. Thanks to the introduction of artificial intelligence, we have managed to radically reduce decision-making time from 6 days to 30 minutes. “The effectiveness of the technology is obvious, so we will focus on this when improving and developing products,” he said.
SberInsurance announced that it has covered approximately 2 thousand compensation claims since the model’s launch in July 2023. The company also plans to integrate the solution into other insurance products and scale it based on requests for insured events from bank branches.