The ability to use insurance claim data analytics through machine learning can improve insurance and claims companies bottom line and overall profit. Modern customers require modern technologies to be able to see benefit and data analytics is the answer to fulfill the evolving demands of customers and the needs of the insurance and claims companies.

Adoption of Touchless Claims
In the current process, claims go through multiple employees that severely affect the quality of the process. Through claims analytics in insurance, the process of ‘touchless’ claims does not require any human intervention. This is done through the automated reporting, capturing, auditing and communication.
Chatbots
This is a technology that leverages popular messaging apps on customers’ phones to execute interaction. The technology of natural language processing and sentiment analysis allows for automated and effective communication. Claim analytics in health insurance allows for customized interactions, wherein questions can be answered, claims can be resolved, products can be sold, leads can be addressed, and coverage issues can be identified.
Personalized Sales Technology
The competitive streak of the insurance market can be tackled through claim analytics in health insurance that offer personalized sales tactics. AI has the potential to rope in customer data and create a profile that targets the customer’s preferences with relevant insurance products.
Risk Alerts
Insurance claims data analytics cuts down on the traditional underwriting process, which is tedious and fairly ineffective. Not only can it offer customers the benefit of a personalized insurance plan, but the automation feature can alert insurance companies on risky customers without the need for invasive questioning.
Telematics
Wireless communication is a feature of insurance claim data analytics that offers data from the customers to the insurance companies in an automated fashion through identification of GPS patters in the data. This technology is capable of tracking traffic conditions, risk factors, etc. that eventually lead to fewer claims processing and higher customer satisfaction.
Machine Learning
The ability to meaningfully generate and apply data through machine learning holds tremendous scope to improve insurance and claims companies bottom line and overall profit through claim data analytics solutions. It offers features such as electronically generated customized insurance advice and improved insights into the needs of the customer.