AXA UK has announced the launch of a new machine learning tool to help streamline and accelerate more complex property claims.
BETSIE (Buildings Enhanced Triage Steering Intelligence Engine) works by increasing the speed and accuracy of claims resolution by capturing essential data points and simplifying the claims triaging process.
Built in-house by AXA, the tool uses data, analytics and historical learning to accelerate decision-making and support claims handlers in identifying the most suitable triage route. This enhances customer experience as fewer questions need to be asked and the potential for rework, delays and further costs are reduced.
A recent six-month pilot of the same tool with escape of water claims saw around 1,300 claims processed and a 25% reduction in claims being re-routed due to improved accuracy.
More than 50% of household escape of water claims are now being processed using the tool and in the coming months, BETSIE will now be used across AXA’s property claims, including fire damage, escape of water and weather-related claims such as flood and storm damage.
Over 100 claims handlers are now trained in using the tool and are reportedly benefiting from a solution which “helps them make the correct decisions for customers more quickly”.
Waseem Malik, executive managing director of Claims at AXA UK, said: “At AXA, we are always working on improving our claims processes and to utilise data to optimise claims outcomes. BETSIE provides us with a fantastic opportunity to make quicker, more advanced decisions for customers.
“The changes that AXA has already made to our triaging routes in escape of water claims has led to significant cost savings and improved cycle times for our customers, and I’m really excited about the opportunities and benefits that BETSIE will bring across the spectrum of property claims.”
He added: “Not only will this tool help us triage claims based on data and past outcomes, it will also enable our teams to make the right decision the first time for customers.”