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Impact of artificial intelligence on the claim-handling process in insurance services: automation, augmentation, or both?

In: Handbook of Services and Artificial Intelligence

Author

Listed:
  • Ada Scupola
  • Victor Holck Abildgaard
  • Federica Auletta
  • Magnus Zwicky Riddersholm

Abstract

The financial and insurance sector ranks as the third-largest service sector in the European Union for investments in artificial intelligence (AI). Particularly, the non-life insurance sector is embracing AI to reshape operations in claims handling, back-office functions, and finance. This chapter delves into the contrasting logics of automation and augmentation concerning the integration of AI within the claim-handling processes of non-life insurance firms, as perceived by diverse stakeholders. To address this query, the chapter leverages AI-based process innovation and the automation-augmentation paradox, employing semi-structured interviews within three prominent Danish insurance companies. The chapter’s primary contribution lies in showcasing the automation-augmentation paradox within the service sector, notably insurance. It illustrates that the augmentation and automation paradigms are not mutually exclusive; they coexist within the same company albeit across different departments. Moreover, the chapter provides evidence of a virtuous cycle within the automation of claims management in non-life insurance companies.

Suggested Citation

  • Ada Scupola & Victor Holck Abildgaard & Federica Auletta & Magnus Zwicky Riddersholm, 2024. "Impact of artificial intelligence on the claim-handling process in insurance services: automation, augmentation, or both?," Chapters, in: Ada Scupola & Jon Sundbo & Lars Fuglsang & Anders Henten (ed.), Handbook of Services and Artificial Intelligence, chapter 4, pages 53-66, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:21983_4
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    File URL: https://www.elgaronline.com/doi/10.4337/9781035301973.00011
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