MotionsCloud is a German claims handling platform that streamlines the claims process for both insurers and loss adjsuters. Designed by loss adjusters, for adjusters, MotionsCloud integrates with the existing IT infrastructure of insurers in addition to providing data security for client insurers.
MotionsCloud works by first aggregating and then clustering claims data into predefined categories. It then estimates the damages by analysing text, audio, photo and video input features. These data points are then securely stored for later reference by loss adjusters. Finally, Motionscloud also enables loss adjusters and claims handlers to work with customers remotely through voice and video communication to settle simple claims faster. The claims process is therefore more straightforward and efficient, with a higher degree of customer satisfaction.
MotionsCloud claims to increase the processing speed of insurance from 3 weeks to 3 hours. For insurers, this represents up to 30% of the claims expenses. Additional benefits of MotionsCloud include:
- Reduced claims costs through automating the process
- Reduce fraud rate through identifying patterns in fraudulant claims
- Improve accuracy of settlement payments
- Self-service & automate claims processes
- Claim progress tracking mechanism.
Ultimately, although the AI frontier is still in its infancy, the cost savings that can be achieved with solutions such as MotionsCloud is providing a glimpse of the potential disruption ahead.