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June 23 2023

Bastiaan De Goei – Instabase – How AI Ensures A Speedy And On-Time Payment

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Bastiaan De Goei, Insurance Leader at Instabase, explains how the usage of artificial intelligence can assist in increasing the speed at which a payout is sent after an insurance claim is made.

Instabase is a platform that enables organisations to automate and streamline their business processes by extracting, transforming, and analysing data from various sources, all in one unified environment.

“Other companies are able to automate the scan of the actual place where the accident took place. For the evaluation of that information, that is where companies like Instabase can play a role to interpret the full information of the contractor or field adjustor or extract the claims amount estimate, as well as the liability decision.”

“When working with Instabase, this particular type of life insurer [for a short term disability claim] was able to reduce the claims cycle time from two months, all the way down to two days. That makes a material difference for the customer.”

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