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        Clearcover, a digital auto insurer, has launched a GenAI-powered claims intake tool aimed at streamlining and digitizing the statement collection process.
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        The new tool harnesses large language models (LLMs) to navigate a conversation-driven experience after First Notice of Loss (FNOL) to collect information about the incident. The tool includes a claims assistant and a real-time customer question resolution feature through its mobile app.
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        The company claims that the tool expedites the claims process, with eligible claims being paid in as little as 30 minutes. It plans to incorporate the tool into its agent portal and website in the future.
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    <a href="https://www.prnewswire.com/news-releases/clearcover-launches-generative-ai-insurance-tool-to-expedite-claims-processing-and-improve-customer-experience-302094818.html">
      Press release
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Neo Insurance

PROMINENT_CATEGORY

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<p>Clearcover, a digital auto insurance company, has introduced a new claims intake tool powered by GenAI. This tool is designed to digitize and streamline the processing of statement collection. It utilizes large language models (LLMs) which guide the user through a conversational experience after the First Notice of Loss (FNOL), collecting all necessary information about the accident.</p>
<p>The new tool features a claims assistant and a function for real-time customer question resolution, which are accessible through Clearcover's mobile app. This aims to expedite the claims process, with some eligible claims reportedly being paid out in as little as 30 minutes. Clearcover has future plans to integrate this tool into its agent portal and website.</p>

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Clearcover launches GenAI Solution to streamline insurance claims process

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 <p>Members and InsurTech companies, including Boost, Branch, Clearcover, Lemonade, and Root Insurance, have teamed up to launch InsurTech Coalition, a new trade organization committed to shaping an ethical and inclusive future for the insurance industry.</p>
 <p>The coalition aims to advocate the responsible use of technology, provide transparency, offer better products and pricing to customers, collaborate with regulators to develop new frameworks, and review products to manage risk efficiently while making them more accessible.</p>
 <p>Furthermore, the coalition is open for other InsurTech companies to join.</p>
 
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Coalition of InsurTechs join to launch ‘InsurTech Coalition’ to shape future of insurance

Clearcover, a digital auto insurer, is set to lay off 28% of its workforce, following a previous round of layoffs just five months ago. The company says that the decision was influenced by the difficult and unstable market conditions. Despite this, Clearcover's carrier business managed to generate $82 million in written premiums during the first half of 2023.

All Updates

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