Artificial intelligence (AI) is an advanced computer program or robot program that comes with human-like intelligence and perform tasks like planning, problem-solving and decision making. Speaking of the role of AI in health insurance, you may be wondering what is it? Let us explain in detail.
Artificial intelligence in health insurance has brought huge and positive changes in tech. It has evolved user’s experience. Customers nowadays are becoming technically advanced and are also getting used to the methods of AI.
AI in health insurance industry is playing an important role – as you can now easily calculate the cost of your health insurance premium and compare & choose suitable health insurance plans online. With the health insurance AI, you can also get cashless claims and track your claiming status with just one click.
The role of AI is also proven successful in fields of diagnostics and modern medical treatment for fatal illnesses like diarrhoea, diabetes, cancer, etc. There are many health apps that help you keep a track of your health, and even set diet plans as well as exercise schedules. All of this is possible because of the AI technology.
Key roles of AI in health insurance
In order to help you understand more about the role of AI in the health insurance industry, we have curated a list below:
- Claim settlement process – The process of settling claims raised by the policyholders is now more convenient and less time-taking. This is because AI has replaced the old and traditional methods of claim settlement process. Moreover, it has enabled quick verification and better detection of fraudulent claims.
- Chatbot – With chatbots responding quickly, the customer interaction is now faster and easier. The customers can contact the chatbots, communicate the inconvenience they are facing and get it resolved in no time.
- Underwriting – Many health insurance providers depend upon advanced algorithms to accurately analyze the risk before deciding on the premium. Here, AI aids in providing precise data by taking numerous factors into account. Artificial Intelligence in health insurance ensures accelerated underwriting procedures and faster decisions.
In short, AI has improved provider’s capabilities and user’s experience.
We hope you now have a clear idea of how AI has enhanced user’s experience in the health insurance sector. Be it the calculation of premium or evaluation of risks involved, AI has made it easy for us to understand and make a wise choice.
If you want more details or wish to explore insurance plans online, visit our Bajaj Finserv app. We ensure to provide you a hassle-free and quick browsing as well as purchase experience.
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The Bajaj Finserv App is a high utility app that takes care of all your financial needs including insurance. On this app, you can explore health insurance plans from our trusted partners. Here you can view product features, compare prices, and purchase a plan that is best suited to your needs. All this in a matter of minutes on our 100% digital platform and from the comfort of your home. It truly is becoming the new way to buy insurance.
