Comprehensive insurance for cars: Zurich relies on artificial intelligence and data analysis in claims processing

Comprehensive insurance for cars: Zurich relies on artificial intelligence and data analysis in claims processing

According to a report from newsroom.porsche.com, Zurich Group Germany plans to revolutionize claims processing in comprehensive insurance through the use of artificial intelligence and data analysis. Horst Nussbaumer, the Chief Operating Officer at Zurich, wants the car itself to report the damage directly to the insurance company and provide all relevant data. This means that immediate offers of help such as towing service and workshop placement can be made. Nussbaumer relies on partnerships between the insurance industry and the automotive industry to create a uniform system from which all insured parties can benefit. Zurich has already carried out tests with a test fleet in road traffic.

This new method of claims processing has various effects. On the one hand, the process becomes faster and more efficient because the insurance company immediately receives information about the type and extent of the damage and can therefore begin processing the claim earlier. This saves time and costs for both the insurance company and customers and partners such as workshops and towing services. On the other hand, the use of data analysis and artificial intelligence enables a more precise assessment of the damage and a better assessment of the repair costs. This allows insurance companies to adapt their offers and potentially offer cheaper rates.

However, it should be noted that personal customer service remains of great importance. The digital information on accident damage must be used with the consent of the customer and is intended to offer immediate assistance. Trust and careful handling of data are crucial. Zurich also emphasizes that technological tools should not replace human care, but should only help improve services.

This approach from Zurich not only impacts the comprehensive insurance market, but also the automotive industry and its partners. Close collaboration between insurance companies and automobile manufacturers can create new value-added services that are offered to customers when purchasing or leasing a car. This can strengthen customer loyalty and promote a long-term partnership between insurance companies and car manufacturers.

Overall, the introduction of artificial intelligence and data analysis in claims processing for comprehensive insurance is a step towards digital and more efficient processes. It enables faster help for customers, reduces costs and increases transparency in claims settlement. Collaboration between the insurance industry and the automotive industry is key to the success of this approach and it is hoped that this will lead to standardization across the industry.

Source: https://newsroom.porsche.com/de/2022/wirtschaft/ Schadenarbeit-kaskoversicherung-datenanalyse-artificial-intelligence-29372.html