Artificial intelligence cuts insurance issuance time to 15 minutes: Policybazaar

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Artificial Intelligence (AI) now handles nearly half of all insurance workflows at Policybazaar. This has improved turnaround times, claims accuracy, and customer satisfaction, according to the company’s latest internal report.

The report states that 45% of insurance workflows are managed by AI, reducing manual intervention and errors. Nearly 48% of customers now receive their policies within 15 minutes, compared to 4 hours earlier.

The shift marks a sharp improvement in operational efficiency and customer experience.

AI has also driven a 14x…



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Artificial intelligence cuts insurance issuance time to 15 minutes: Policybazaar


Artificial Intelligence (AI) now handles nearly half of all insurance workflows at Policybazaar. This has improved turnaround times, claims accuracy, and customer satisfaction, according to the company’s latest internal report.

The report states that 45% of insurance workflows are managed by AI, reducing manual intervention and errors. Nearly 48% of customers now receive their policies within 15 minutes, compared to 4 hours earlier.

The shift marks a sharp improvement in operational efficiency and customer experience.

AI has also driven a 14x…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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