AI for Insurance
Katonic.ai is helping insurance companies to scale their ML models, lower operational costs and drive accountability and transparency in their processes.
With the Katonic MLOps platform, your data science teams now get a unified AI orchestration platform to manage their entire AI lifecycle in one place, making things easier, faster and more efficient.
How can AI help?
AI can help ensurers to achieve,
Lower operational costs.
Improve claims processing.
Enhance underwriting processes.
Improve fraud & risk management.
Improve pricing models & profitability.
Predict lifetime value of customers & agents.
Which in turn leads to,
Insurer saves money
through higher throughput & efficiency
increasing C-SAT & reducing churn
Customers receiving decisions faster
in minutes vs days
Out-of-the-box AI applications for the Insurance industry
These applications are ready-to-try and have been built in collaboration with some of the most well-known insurance & technology experts.
Fraudulent claim detection
Predict claims fraud to enable straight through processing (STP) of payments to auto insurance claims.
Long-term disability claims
Predict likelihood of user to file a longterm disability claim in a group insurance plan.
Identify providers charging for services (a particular pharmaceutical code) more often than the average provider in the same specialty.
Precisely target high-propensity customers via 360-degree customer characteristics (such as company relationship, wallet size and product demand) to predict score of cross-sell propensity.
Auto Insurance claims fraud prediction
Ensemble Machine Leaning algorithm-based solution that predicts the probability of fraud for auto insurance claims.
Identify claims where a procedure/service doesn't match provider's specialty that may result from coding errors or intentional actions.
The Katonic MLOps platform advantage
The Katonic MLOps platform allows enterprises to manage their entire AI lifecycle needs on a single platform rather than relying on multiple tools and platforms, saving time and effort. Enterprises use the platform for experimenting, deploying, monitoring, and managing ML models all in one place, facilitating collaboration between data scientists, engineers, and other stakeholders throughout the ML model development and deployment process, ensuring that everyone is working towards a shared goal and minimising silos of information.
Born in Kubernetes, the platform is cloud-agnostic, meaning customers can deploy ML workloads on any cloud environment (i.e. on-premises/private cloud or any public cloud) allowing Katonic to run natively in any cloud or on-premises environment with the full benefits of elastic scaling of heterogeneous data science workloads.
Faster applications building
More cost-effective infrastructure
Reduction in manual labour costs
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Discover best practices for deploying machine learning models into production with MLOps, including how to ensure model reproducibility, maintain data privacy, and optimize model performance.