Gigaforce, an InsurTech provider of a SaaS-based, blockchain-optimised, claims platform, has launched a claims intake bot, Gigabot, for a “near touchless claims experience” in insurance.
According to Gigaforce, Gigabot provides substantial savings in both time and cost by extracting claim data and documents from the originating software and placing it on the Gigaforce Platform.
Additionally, while streamlining claims intake, Gigabot makes real-time data and transactional updates more transparent to the insurer/reinsurer, recovery firm, and any other partners collaborating to manage and settle claims.
Sanjeev Chaudhry, CEO of Gigaforce, said that when thinking of chatbots, most people think of them handling customer service, but Gigabot does the “actual heavy lifting” by enabling end-to-end claims automation.
“This product launch is directly in line with our mission to streamline the insurance claims process while substantially increasing efficiency and accuracy by better leveraging the data that moves in and out of insurance companies daily.”
Chaudhry added that on average, Gigaforce customers have reduced processing time by 20%, increased customer retention, and realised a nearly 25% decrease in the cost of settling claims.
Gigaforce is not alone in the InsurTech industry in eyeing up a touchless claims experience. InsurTech Tractable recently enhanced its collaboration with Mitchell, an Enlyte company and technology and information provider for the property and casualty (P&C) insurance and collision repair industries, to roll-out a low-touch auto insurance experience for customers.
Copyright © 2022 FinTech Global
