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Around the world, insurance users are concerned about the amount of personal information that insurers collect to provide their services. This concern would be less if insurers were willing to implement transparent processes based on technological systems such as artificial intelligence (AI), Robotic Process Automation (RPA) or Machine Learning (ML).
The Capgemini Research Institute’s Global Non-Life Insurance Report 2024 reveals that the insurance industry faces significant challenges in accurately predicting risks, rates and payment calculations.
According to the report, 62% of executives recognize that artificial intelligence and machine learning are technologies that increase the quality of subscriptions and reduce the risk of fraud and non-compliance.
However, although 83% of Non-Life insurance executives think these technologies are essential, only 27% say their company uses them.
The main causes of reluctance are due to the perception of excessive complexity in data collection to create a safer and more efficient digital ecosystem, which allows speeding up response times, increasing security and reducing fraud.
Yes. Technologies such as RPA or AI can detect suspicious activities, behavioral patterns or transactions that may indicate fraud. This speeds up response times to users by reducing bureaucratic and unnecessary requirements.
They also make it easier to identify the use of false property, such as property or cars, to obtain greater compensation in the event of an accident. Likewise, they help better analyze users to prevent fraud such as identity theft, users with previous illnesses or those who submit fraudulent claims.
Insurers who use management technologies can benefit from shorter response times and payment processing, in addition to the possibility of providing real-time attention during claims or eventualities.
Although insurers implement technological solutions, it is essential that they change their policies and procedures to guarantee their ethical and responsible use to provide the best care to users.
If the insurer hinders you from paying the compensation you are entitled to, contact LEX & CO to request legal advice from our promissory note attorneys in mexico through the contact form or WhatsApp button. We offer top-notch specialists in Mexico for probate law, real estate law, and tax law.
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Carlos Figueroa Rodríguez, attorney at law at Lex & Co. He has more than 10 years of experience in specialized cases involving insurance claims and medical malpractice. He is a graduate of the Universidad Anáhuac and has a Master’s Degree in Constitutional Law and Amparo from the National Bar Association. He also has a Doctorate in Juridical Sciences from the UCI Mexico. Professional license 6577215.
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