FinTech Magazine August 2019 | Page 106

AXA INTERNATIONAL AND NEW MARKETS
106 for example , that deliver on the spot claims assessments . We ’ re able to survey accidents using various technologies , such as image recognition , to expedite the claims process as well .”
AI has been brought into the fold to speed up policy issuance as well as enhance the company ’ s cybersecurity capabilities . Robotic process automation ( RPA ), combined with AI , has revolutionised the back-end processes of entities across the group , and the positive results for efficiency are manifold . Kaushik offers an example launched in Brazil that has cut policy issuance from weeks to just a single day . “ We brought RPA and AI technologies together to deploy a solution that can take the process of policy issuance ( which can take around 14-16 days ) and turn it around in 24 hours .” he says . “ Automation solutions are also being deployed in the security space – we have a sizeable landscape and exposure in terms of digital assets available in various entities , and on a monthly basis we now scan the entire landscape to ensure assets are protected and there are no vulnerabilities .” In addition , the AI-augmented scanning enables AXA
AUGUST 2019