The use of AI has led to a 30-60% reduction in operating expenses of insurance companies in Azerbaijan and a halving of lost time, ABC.AZ writes with reference to the Azerbaijan Insurers Association (ASA).

According to ASA, AI has led to a 30-40% optimization of processes, resource savings and a two-fold acceleration of business flexibility.

As noted by ASA, “insurance companies operating in our country, at the next stage, plan to use artificial intelligence in such areas as document flow automation, primary processing of client requests, preparation of training materials, automatic integration of documents into the system, damage assessment, risk analysis and preparation of individual offers. AI will also be used for round-the-clock customer support, reducing workload of operators, in coding tools, personalized product recommendations, predictive analytics, fraud detection, sales optimization and other processes”, the source writes.