Tautona AI

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City: Johannesburg

State: NA - South Africa

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Country: South Africa

Insurance is a highly competitive industry where customer retention is a key priority. Insurers are aware that the claims process is a crucial differentiator and influences customer switching behaviour. However, despite its strategic importance, the claims process remains semi-automated, labour-intensive and bureaucratic. As a result, claims remain unsettled for weeks even months after the event Tautona lead the world when it comes to property claims automation because, unique among RPA companies, we use artificial intelligence to automate tasks that have historically required human judgement or perception. Our vision is to redesign how property claims are processed and empower claim adjusters by using artificial intelligence. Our intelligent hyper automation solutions are powered by: o neural networks that identify, extract and interpret structured and unstructured data from documents and images including emails, text, scans, photos and PDF’s. o deep learning algorithms that identify fraudulent claims, segment and classify risks, predict loss reserve amounts and adjust loss reserving through reinforcement learning, and; o A world first Natural Language Understanding (NLU) engine that can without human intervention: o determine the proximate cause of the loss and if such proximate cause is a risk covered by the policy o understand what damages are covered and whether such damages are personal liability or property damage related o read and analyse whether there are applicable exclusions in the main policy form and/or in the endorsements o read and analyse the conditions to ascertain whether the insured has complied with his or her obligations under the policy. Our library of reusable processes covers all the main Property classes of business and includes Homeowners Multiple-Peril, Commercial Multiple Peril (liability and non-liability), farm owners’ multiple peril, inland marine, earthquake and private flood. We have a library of reusable property insurance claim processes that can be rapidly deployed across various insurance markets and products for immediate business benefit.

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