In today’s fast-paced world, efficient and seamless insurance claim processing is crucial for retailers selling insurance with a sizable customer base . Symbo, a leading provider of Spectacle Insurance in India, has developed an automated AI-powered Claim processing tool to address this need. Powered by Symbo’s innovation labs, this tool has transformed the claims process for India’s largest eyewear retailers. By leveraging real-time policy data and advanced image processing capabilities, the tool ensures faster resolution times and an impressive 85% success rate. Let’s explore how this innovative tool achieves such remarkable results.
Classifying Damaged Spectacle Images:
To train the AI engine behind Symbo’s Claim processing tool, a vast dataset of damaged spectacle images from claims data was meticulously classified. This classification focused on identifying damages to the hinge, frame, or glasses. By exposing the AI engine to a wide range of damage types, it learned to accurately recognize and categorize various issues.
Processing Area and Damage Intensity:
Once trained, the AI engine excels at processing the area and intensity of the damage. For example, it can identify chipping on the frame or scratches on the lenses. This analysis allows the tool to gain a comprehensive understanding of the claim, enabling a more accurate assessment.
The Power of Detection Algorithm:
This tool is powered by a sophisticated detection algorithm. This algorithm evaluates the processed information, taking into account factors such as the extent of damage, historical data, and relevant policy details. By calculating a confidence score for the damage, the algorithm provides an objective evaluation that streamlines the approval process.
Impressive Success Rates:
Preliminary tests of Symbo’s AI-powered Claim processing tool have revealed an impressive 85% success rate. This exceptional accuracy is a testament to the advanced AI capabilities and image processing techniques employed by the tool. Customers can now experience faster claim resolutions, minimizing their wait times and ensuring a smooth and satisfactory experience.
Improving Claims Streamlining:
Streamlining claims processing is a critical aspect of selling insurance for eyewear retailers, and Symbo is at the forefront of this endeavor. By developing their AI-powered Claim processing tool, Symbo aims to minimize wait times and make the claims process seamless for customers. This commitment to efficiency and customer satisfaction sets Symbo apart in the eyewear insurance industry.