IAG has launched its first generative AI tool to help front-line consultants assess claims faster.  

The Claims Assistant Supporting Intermediated tool – or CASI – has “ingested” IAGs product disclosure statements and policy wordings, so claims staff can type in questions and receive answers with references to the relevant section of the document. 

CASI has reduced the time taken to find all required documents and interpret relevant sections from 20 minutes to just a few seconds, the insurer says in the latest edition of the Strive Report from its CGU brand.  

Feedback is being monitored, and a list of additional features is being prioritised for updated releases, including for commercial claims.  

Other digital tools include CGU’s claims portal that allows brokers to allocate repairs for personal motor and personal property claims without needing to call anyone.  

However, CGU says insurers and brokers need to check AI data is secure and that claims do not include fraudulent photos.

“While technology can make the job faster, it has shortcomings,” it says.

The Strive Report examines insurance affordability and underinsurance; technology advancements; climate risk and upcoming mandated sustainability disclosures; intergenerational challenges and opportunities in insurance; and global trends influencing the Australian industry. 

CGU EGM Damien Gallagher says industry evolution is critical to meeting customer needs.

“The future calls for strengthened operational resilience and preventative risk management from all industry players,” he said. “We deliver this report as part of our ongoing commitment to equip our brokers, partners and customers with the information needed to help prepare them for what lies ahead.”  

See the report here.