How does AI reduce insurance claims processing time?
AI reduces claims processing time through four mechanisms: faster and more complete FNOL intake means adjusters receive better data immediately; automated status update calls and messages eliminate the inbound claimant enquiries that consume adjuster time; AI-driven document collection reminders accelerate the receipt of required supporting documents; and AI triage of new claims against known patterns helps prioritise the claims queue for adjusters.
Together these mechanisms typically reduce average claims cycle time by 20 to 40 percent within 90 days of deployment.
For example, an insurance company tracks average claims cycle time before and after deploying Televanta.
Before deployment, the average time from FNOL to settlement is 22 days.
After deployment, it falls to 14 days.
The improvement is attributed to three factors: adjusters spend 3.5 fewer hours per week on inbound status enquiry calls that Televanta now handles automatically; FNOL data completeness improves from 71 to 96 percent, reducing the need for follow-up data collection; and automated document reminder messages accelerate supporting document receipt by an average of 4 days.
A pet insurance provider deploys Televanta to send automated document request reminders to claimants who have not submitted their vet invoice within 5 days of FNOL.
The average time from FNOL to document receipt falls from 11 days to 5 days.
The claims team processes claims faster and claimants receive settlement faster, improving the post-claim satisfaction score significantly.
Key benefits
- Accelerates claims cycle time by 20 to 40 percent through faster intake, better data, and automated document chasing
- Frees adjuster time from inbound status enquiry handling so they focus on investigation and settlement decisions
- Sends automated document request reminders at optimal intervals to accelerate document receipt
- Improves claimant satisfaction by communicating status proactively rather than forcing claimants to chase
Why Televanta?
Televanta's claims processing impact is felt across the entire cycle rather than at a single point, from faster intake through better-quality data through fewer adjuster interruptions through faster document collection. Insurance companies deploying Televanta across the claims process consistently achieve cycle time reductions that improve both customer satisfaction scores and operational cost per claim settled, because faster cycles mean lower handling cost and higher claimant satisfaction simultaneously. The platform makes the claims process work better for everyone involved.
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