AI in Insurance: 25+ Real-World Use Cases Across Claims, Distribution and Underwriting
From distribution to claims, explore how AI is helping insurers overcome long-standing challenges and unlock greater value for customers.
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The client is a private Swiss company in the fragrance and flavour business. It is the largest privately-owned company in the field and comes under top 3 worldwide.
Our client needed to implement an API first solution to improve their user/customer experience and business agility as there was API gateway. With the then existing set up, our client faced multiple challenges due to inefficient API management, ‘the’ between ‘and’ and ‘absence’ of proper API governance resulting in security challenges, inability to analyse data and predict the various trends, inability to make effective and efficient decisions owing to the lack of accurate reports and dashboards and much more.
Quinnox evaluated the API management products available in the market using the API Decision Tree, and recommended using the Axway API management platform. Quinnox established a centre of excellence with processes for end-to-end API lifecycle management, which includes creation, publication & subscription of APIs, collection and analysis, security implementation, access, authorization and monitoring, and people to leverage the technology. Quinnox implemented the API management with defined a governance process. This enabled the consumers to view the APIs in one portal and subscribe the ones that they need.
The API Developer Portal acts as a one stop shop with all APIs in one place, helping faster development with self-service subscription of APIs, thus improving user/customer experience.
From distribution to claims, explore how AI is helping insurers overcome long-standing challenges and unlock greater value for customers.
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