Digital Insurance Agenda

omni:us: How AI-powered claims handling helps UNIQA to reduce claim leakage and costs  

Written by Roger Peverelli and Reggy de Feniks - Founders The DIA Community on Jun 24, 2022

At DIA Amsterdam 2022 Andreas Nemeth from UNIQA and Martin Micko from omni:us will be talking about their collaboration on claim automation, why it started and what the business impact has been so far. They will share their experiences, results, and insights on how UNIQA succeeded in cutting costs, whilst increasing customer satisfaction with the use of AI-powered claims processing. In this preview we share their common view on claims.  

The continuous focus on growth and profitability in the insurance industry has made the life of a Head of Claims increasingly difficult. Costs to operate a claims department have been increasing substantially, with more than 90% of operational costs spent on personnel. Teams are often overworked as claims often come in peaks. This was exactly the case with UNIQA summer 2021 when it was hit hard by a flood of storm claims in Austria. 

At that moment UNIQA started collaborating with omni:us to automate the processing of ‘high-volume-low-severity’ claims, with a clear goal to master the conflict of interest they had in fulfilling overall business requirements: cutting costs while increasing customer satisfaction. Cutting cost basically means a reduction of employees, which leads to longer processing times thus unhappier policyholders and employees thus lower satisfaction.  

This conflict of interest was solved by omni:us’ Digital Claims Adjuster (DCA): a SaaS solution that automates entire claims processes including repetitive tasks by combining deep domain understanding with state-of-the-art technology. As a result, claims adjusters can focus on more complex claims and critical decisions. Process costs are reduced by up to 35% and processing time is down by 50-100%. 

How does it work?  

The omni:us DCA solution combines 3 advantages to automate existing claims workflows: 

  • Claims Decisions Catalogue: omni:us’ pre-trained AI and rule engines make complex claims decisions, provide next-best-action recommendations and alert adjusters if human attention is required. 
  • Reference Claims Processes: omni:us understands how insurers process their claims, for the different lines of business. Its out-of-the-box reference processes allow rapid implementation and processing by simply adapting them to the insurer’s needs.   
  • Seamless Core System Integration and Access to Master Data: the omni:us DCA comes with standardized connectors to core platforms such as Guidewire or Sapiens, or legacy applications that provide access to the Master Data (like policies, products, limits, deductibles, etcetera). This data gives insight in the applicable terms and conditions, thereby allowing for the automation of claims handling.  

From business case to end-to-end automation 

UNIQA is still operating on a legacy core insurance system, whilst deploying modern core insurance platform. In parallel, UNIQA decided to go live with omni:us in 2021, considering the overall challenges and potential business case of engaging the omni:us platform.  

In a first step, across all P&C lines of business, omni:us SaaS solution covered automated claims file creation. Within only a few months, the solution was capable of automating more than 70% of all claims in scope and this level of automation is still increasing.  

In the second phase UNIQA and omni:us selected specific lines of business and perils that were eligible for end-to-end automation of their claims processes. 

Benchmark Results (not just UNIQA specific)  

Using omni:us’ Digital Claims Adjuster 

  • Automated claims file creation for more than 70% of all claims in scope  
  • Straight-through processing for over 60% of claims and semi-automated for another 25%, focusing on selected lines of business and perils (see table below) 

Without omni:us’ Digital Claims Adjuster 

  • Manual claims file creation through near-shore service center 
  • Subsequent manual claims management through claims adjustors in one of the specialized LOB (Lines of Business) service centers 
Supported Lines of Business & Perils 

Who is omni:us? 

omni:us is the leading provider of intelligent insurance claim automation. The omni:us Digital Claims Adjuster enables seamlessly integrated end-2-end claims automation within existing insurance systems, such as Guidewire, Sapiens or legacy applications. Integrated reference claims processes for seven property and casualty lines of business, as well as a comprehensive, AI-powered claims decision catalog, help reduce process costs by up to 35 percent – while noticeably increasing customer satisfaction and efficiency. 

The company is headquartered in Berlin with offices in London and Boston. 

omni:us was founded in 2015 and is part of the Qidenus Group GmbH. The team of founders includes Sofie Quidenus-Wahlforss, CEO, Martin Micko, COO, together with a seasoned leadership team of insurance industry veterans and experts in machine learning.  

omni:us is ISO 27001 certified and benefits from a network of partners: KPMG, Capgemini, PwC, Accenture, Sollers, Infosys, IBM, HCL, as well as Sapiens, Guidewire, Microsoft, AWS and Friss. 

“Claims processing is one of the most time-consuming processes in the insurance industry. The need of insurers to automate this process is naturally high. The challenge lies in a deep understanding of the claims domain and advanced technological expertise in equal measure  and, above all, their connection. And this is exactly where our Digital Claims Adjuster delivers at enterprise scale.”

Sofie Quidenus-Wahlforss – omni:us founder & CEO

As always here’s their website: https://omnius.com/

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