?? AI in Insurance 2024: Case of Hannover Re

Welcome to the 6th edition of our series, AI in Insurance 2024: Movements of Insurers & Implications on Travel Insurance.?

Hannover Re is a leading name in insurance and reinsurance solutions. This issue will cover how Hannover re utilizes cutting-edge AI innovations to transform the Automated underwriting system, providing streamlined and expedited underwriting processes and ultimately improving customer experience.

Case Study

Highlights of AI Innovations by Hannover Re

Automated Underwriting System- Leveraging AI to provide a streamlined and faster underwriting process, generate sales leads, and enhance customer experiences.

??Travel Insurance Applications Suggestions:

• The Automated underwriting system enhances the speed and efficiency of the underwriting processes, resulting in an enhanced customer experience. Efficient underwriting processes free up underwriters to focus on new business opportunities, potentially increasing sales for insurance companies.

AI PARTNERSHIP MOVEMENTS

??Hannover Re & Neurotrack

Hannover Re and Neurotrack partnered in September 2020 and focused on using AI for Digital Cognitive Assessment for Brain Health Monitoring. This technology is built with the potential to improve risk assessment for insurance products and enable personalized offerings based on cognitive health data.

??Hannover Re & GreenPacket

Hannover Re partnered with GreenPacket in September 2020, to utilize Commercial Fleet Usage-based Insurance Telematics Programs. This technology leverages telematics devices and AI algorithms to gather data of customers and recommend customized insurance programs for businesses.

??Hannover Re & GalenusRx

A recent partnership of Hannover Re and GalenusRx in March 2024, focuses on Medication Safety Technology for Healthcare Division Clients. This technology utilizes AI to identify risks and optimize medication regimens for individual patients, potentially improving the customer experience and patient outcomes.

??Hannover Re & Sureify

Hannover Re’s partnership with Sureify was established back in December 2016, this collaboration focuses on Sureify Labs' LifeTime Platform. Their web and mobile solutions utilize AI to enhance customer experience by streamlining quoting, application, and fulfillment processes of insurance policies.

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Contact us to learn more

This reading is a part of the AI in AI in Insurance 2024: Movements of Insurance Giants & Implications on Travel Insurance. You’ll get an email weekly on the case studies of how industry players are using AI to transform their insurance value chain in various verticals.

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• 2023 France Travel Insurance Outlook
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