25 November 2021 | News
The platform helps to process and digitise medical records, KYC, and application forms to verify and build personalised profiles
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Insurance technology startup Artivatic.AI has launched AUSIS, a smart underwriting platform for better risk and fraud analysis. AUSIS is a smart, AI-based underwriting platform with personalised pricing, risk, and decisions too. It helps to process and digitise medical records, KYC, and application forms to verify and build personalised profiles in combination with historical data and business rules of the product. This platform enables in-depth individual health-risk analysis and suggests the underwriting decision in less than 60 seconds.
The AI-based smart underwriting system is enabling underwriting transformation for insurance. The system can either connect to the existing legacy system of insurance companies to enhance and make it intelligent or allow to have end-to-end new age underwriting system. It enables STP (Straight-through processing) and NSTP (Non-Straight through processing) processes to become simple, seamless, efficient, data-driven, customer-centric, faster, and automated.
The system works in the insurance space to provide life and health policy in a better and faster way. It leverages disruptive technology like AI, analytics, and alternate risk engines, connected through well-developed APIs. The platform will have the ability to capture real-time customer data, perform facial analysis, automate risk assessment and provide propensity to claims. It also enables to connect and integrate the existing or third-party apps as an end-to-end process.