Voice recognition development: 80% insurance claims processing without agents communicating directly with customers

Voice recognition system for speeding up insurance claim processing

Customer

Industry

Insurance

Region

USA

Client since

2019

Our client is a US-based insurance company who provides insurance services to customers across the nation.

Detailed information about the client cannot be disclosed under the provisions of the NDA.

Challenge

The leading brands in the world are now using voice recognition technology in nearly all of their operations. As customers want the same level of easiness and convenience in everything they do, insurance companies need to follow the lead.

The continuously rising customer expectations are just one of many reasons why the insurance sector should be taking notice of this technology. Voice recognition can greatly ease the strain on insurance companies through greater security while keeping them competitive.

Ineffective claims documentation is driving up costs quickly for insurance companies of all sizes. In fact, it’s getting harder and harder for field agents and adjusters to simply achieve claims quotas given that they spend up to 50% of their day typing reports and documentation. It is obvious why insurance companies have little time to concentrate on boosting sales and increasing market share.

Voice technology offers the insurance sector new possibilities to actively connect with clients and to streamline the underwriting, servicing, and claims processes. A customer who purchases insurance must devote a significant amount of time to evaluating the circumstances, understanding the product they are purchasing, and completing the application or other paperwork. Many customers give up on the purchasing process when they have to spend a lot of time on it. For insurance websites, the typical sales conversion rate is between 10% and 15%. Thus, speech recognition systems make customers’ browsing and other actions simpler and faster.

What is more, long manual data input forces companies to compromise the accuracy of records. Additionally, field agents struggle to balance their workload as a result of this time-consuming data entry, which results in lengthy hours, low morale, and a high turnover rate.

In this digital era, it is crucial that they provide convenient and personalized on-demand solutions to customers.
Our client was seeking a solution that would accelerate their daily work on insurance claims, provide additional functionality and improve overall customer experience while increasing the security of customer and business data.

Solution

Our engineering team has delivered a robust voice recognition solution that empowers claims agents to meet claims quotas more easily and accelerates the evaluation process.

Our engineering team has created a smart AI-based voice recognition application which allows the company’s customers to use their voice to set the necessary parameters (object’s brand, production year, etc.) so that the system could calculate the price. After analyzing the voice data, the application displays an image of the object on the screen. The system analyzes the information and provides the object’s approximate insurance cost after the user confirms that the object was selected correctly. A company manager calls the customer to get more information and confirm the final price.

As employees adopt the new technology and adjust to the new approach of dictation instead of typing, speech recognition helps companies automate workflows without impacting existing processes. Professional services can speed up and simplify the organization’s transition and increase user adoption rates through facilitating the change management process.

In a typical claim workflow, the client first reports the claim and fills out the form. The claim processing system is then updated with the details of the claim examination. The claim manager then reviews the claim forms and refers it to the office for processing and payment if it is approved.

In contrast to many off-the-shelf speech recognition solutions, we have developed an enterprise-ready application, complete with administration tools for managing large numbers of user requests.

Technologies & tools

Backend

Python, TensorFlow, Keras, SpeechRecognition, NLTK, PyAudio

Process

The app we’ve developed uses the human voice as the main interface between the user and the system. For each user of the system, the system generates an individual voice profile that details the specifics of their individual voice. This profile also contains user-specific data, such as settings and customized voice commands.

Customer profiles are created based on general language models, which are then adapted based on the way individuals speak and the words they use. Thus, the app can accommodate users with different accents and speech patterns, and users can dictate naturally.

Team

Python Developers

React developers

Results

Our client has leveraged the app we’ve created to improve customer service and enhance agent performance. Each claims agent now saves many hours per day, not to mention the time saved by automating some routine processes, in part because it is now simpler and quicker to compile claim reports and documentation. Additionally, adjusters can handle a larger number of claims with greater accuracy and higher quality.

Besides, there are many people with visual impairments who rely on text-to-speech dictation software and screen readers. And converting audio into text can be very important for hearing impaired people.

Voice recognition can work as hands-free technology to let them understand conventional speech. This technology can also help them understand the insurance quotes and claims for a better and secured future.

Through automation of low value, repetitive processes, employees have more scope for development and engagement with their roles. The client claimed higher productivity and ROI almost right away after integrating our solution into their system.

Project duration

2019 - Ongoing
The project is still ongoing, at this stage we support the app and implement new functionality

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