Generative AI for Claims Efficiency in the Insurance Sector

Gehrmann of Qatar Insurance Group on Potential Business Impact of Generative AI
Lars Gehrmann, group CDO, Qatar Insurance Group

Bain & Company estimated that generative AI will create a $50 billion financial opportunity within the global insurance sector. The technology not only promises to boost revenues by approximately 20% but also offers the prospect of reducing costs by up to 15%. Qatar Insurance Group, one of the largest insurance companies in the MENA region, hopes to capitalize on those opportunities by kicking off multiple pilot projects to evaluate generative AI's potential across the insurance enterprise.

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The group is doubling down on existing AI efforts within the claims management area. Through integration of generative AI, the company aims to streamline the claims process for greater efficiency and customer centricity across the value chain.

"We are integrating generative AI into the end-to-end claims experience, right from when the customer comes with the claim to the payout," said Lars Gehrmann, group CDO, Qatar Insurance Group. "This not only helps us better analyze and learn from the data and adapt swiftly but also communicate more effectively with our customers."

In this video interview with Information Security Media Group, Gehrmann also discussed:

  • The generative AI pilots that are underway at Qatar Insurance Group;
  • The group's two-pronged approach to generative AI;
  • Use cases in claims processing, marketing, call center and employee productivity.

Gehrmann has more than 23 years of experience in building and managing digital ventures in insurance, financing, leasing, automotive and education. He oversees the digital strategy of Qatar Insurance Group and leads its venture building and corporate VC activities as the co-founder and head of QIC Digital Venture Partners.

About the Author

Shipra Malhotra

Shipra Malhotra

Managing Editor, ISMG

Malhotra has more than two decades of experience in technology journalism and public relations. She writes about enterprise technology and security-related issues and has worked at, Dataquest and The Indian Express.

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