Qover, a leading InsurTech, has announced the launch of its AI-enabled solution designed to streamline the claims experience.
This innovative platform has the potential to settle claims within minutes of approval, setting a new standard in the insurance industry for user experience and operational efficiency.
The product has been designed in bid to address a significant pain point in the insurance sector: the claims journey and the speed of settlement. These are primary sources of dissatisfaction among claimants.
The modular platform developed by Qover expedites the entire end-to-end claims process for users.
The new solution significantly enhances the claims process by utilising AI and automation at key stages, allowing claims to be submitted with just a few clicks and settled within an hour of approval.
This offering, while primarily automated, is continuously overseen by human agents to ensure accuracy and fairness.
The product offers several benefits designed to integrate seamlessly into any brand or risk carrier’s existing systems. It utilises AI-powered customer care tools, such as GenAI chatbots, to provide instant answers and self-service options.
Additionally, AI-powered processing of claim information and advanced data extraction technologies streamline the manual review of documents and data points, speeding up decisions and ensuring all relevant information is pre-filled for users.
Qover’s platform also automates claims reimbursements, allowing claimants to receive payouts much faster, often within hours of approval. This reduces financial strain, particularly for larger claims.
Quentin Colmant, CEO and Co-founder at Qover, stated, “AI integration will play a crucial role in achieving our ambitious goals of transforming how we handle received claims. We are determined to set a new, higher standard in the industry, harnessing AI for its transformative impact and value it creates for our partners and their customers. With human oversight and control, our priority is to ensure that every request is treated fairly, ethically and securely.”
Ed Ackerman, Chief Customer Officer at Qover, remarked, “Our new claims experience will be transformative for our customers and partners. By leveraging AI and automation at key stages of the end-to-end claims process, we’re not only speeding up a typically cumbersome process but also making it more intuitive – even stress-free – for our policyholders. Imagine submitting your claim in a couple of clicks and getting paid within an hour of claim approval.”
Qover’s AI initiatives are closely monitored in line with the principles of the EU AI Act, such as data protection, transparency, and fairness.
The platform also complies with ISO27001 standards, ensuring robustness, safety, security, and accountability with human oversight and control.
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