Reinsurance News

AXA UK launches machine learning-driven property claims tool

20th July 2021 - Author: Charlie Wood

AXA UK has introduced a new machine learning tool designed to help streamline and accelerate complex property claims.

axa-logoBETSIE (Buildings Enhanced Triage Steering Intelligence Engine) captures data points and simplifies claims triaging process by increasing the speed and accuracy of claims resolution.

The tool was built inhouse by AXA and uses data, analytics and historical learning to accelerate decision- making and support claims handlers in identifying the most suitable triage route.

This is intended to enhance customer experience by asking fewer questions and reducing the potential for rework, delays and further costs are reduced.

A recent six-month pilot of BETSIE with escape of water claims saw around 1,300 claims processed and a 25% reduction in claims being re-routed due to the tool’s improved accuracy.

Tremor - The modern way to place reinsurance

More than 50% of household escape of water claims are now being processed using the tool and this number is increasing each month.

In the coming months, BETSIE will be used across AXA’s property claims, including fire damage, escape of water and weather-related claims such as flood and storm damage.

“At AXA, we are always working on improving our claims processes and to utilise data to optimise claims outcomes,” Waseem Malik, Executive Managing Director of Claims at AXA UK.

“BETSIE provides us with a fantastic opportunity to make quicker, more advanced decisions for customers.

“The changes that AXA has already made to our triaging routes in escape of water claims has led to significant cost savings and improved cycle times for our customers, and I’m really excited about the opportunities and benefits that BETSIE will bring across the spectrum of property claims.

“Not only will this tool help us triage claims based on data and past outcomes, it will also enable our teams to make the right decision the first time for customers.”

Print Friendly, PDF & Email

Recent Reinsurance News