Insurance & AI – Highlights from our Event at Sparta Rotterdam

At Simplifai, we believe innovation is the key to staying competitive in today’s rapidly evolving insurance industry. This belief came to life during our recent event, ‘AI and Innovation in Insurance’, held at the iconic venue of Sparta Rotterdam. From a stadium tour to expert-led discussions, the day was filled with inspiration and practical insights on the role of AI and automation in the insurance space. We have summarized our highlights from the day's presentations below.

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Claims Automation

Insurance

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December 11, 2024

Innovating Claims Handling with AI

Nh1816 Verzekeringen, a Dutch specialist in private non-life insurance since 1816, has maintained its title as the Best Insurer for 16 years in a row. With an outstanding Net Promoter Score (NPS) of 91–92, the company sets the benchmark for personalized insurance solutions. At the event, Rob Vissers, Senior Manager Operations at Nh1816, was on stage to share how the strategic adoption of AI automation contributes to their ongoing success.

Four years ago, Nh1816 first partnered with Simplifai to integrate AI into their claims processes. Today, 80% of their acceptance workflows and 91% of incoming messages are processed automatically. This has enabled the company to scale efficiently, even amid a tight labor market. Emphasizing the synergy of humans and AI, Nh1816 not only enhances productivity and customer satisfaction but also enables its claim handlers to save valuable time while ensuring consistent, fair outcomes.

Straight Through Processing for End-to-end Claims‍

As a second keynote speaker, we welcomed Rob van Esch, VP Strategy & Innovation at Keylane. Keylane is a leading European SaaS provider that supports over 225 insurance and pension companies with the Axon platform, which offers a complete solution for policy, claims and billing management. With explainable and transparent AI as its core technology, Keylane brings efficiency to the insurance industry while ensuring privacy, regulatory compliance, and fairness.

Keylane seamlessly integrates Simplifai's claims solution into the Axon platform to automate and accelerate intake and processing. Supported by Simplifai's abilities in data extraction and interpretation, Keylane achieves an STP rate of 50–70%, streamlining claims management from the First Notice of Loss (FNOL) to payout. Keeping the human in the loop, complex cases are seamlessly routed for manual review.

Pioneering Generative AI in Insurance

Simplifai Co-Founder and CPO Erik Leung gave insights into Simplifai's journey toward the forefront of AI-powered automation in insurance. Since 2017, Simplifai has automated over 5 million queries and generated €100 million in value for customers. With best-in-class data privacy and security protocols, Simplifai achieves over 90% accuracy in AI-driven processes - creating solutions that combine innovation with trust.

Simplifai’s InsuranceGPT, powered by Generative AI, automates data handling and supports decision-making by tailoring Large Language Models (LLMs) to insurance-specific needs. It processes unstructured data like First Notice of Loss (FNOL) and related documents, enabling efficient data verification, document summarization, and resolution proposals. This enables insurers to process claims more quickly and accurately, lowering costs and enhancing customer satisfaction by freeing employees to focus on delivering exceptional customer experiences.

Click here to read more about InsuranceGPT.

Conclusion: The Future of Insurance is AI-Powered

Above all, the event showed that AI and innovation are no longer optional – they are essential to adapting to changing market conditions, meeting rising customer expectations, and maintaining leadership in the industry.

Nh1816’s continuous growth and success highlights the importance of increasing efficiency to scale operations, reduce operational costs and deliver consistent, high-quality customer experiences while complying with industry regulations.

We thank all attendees for their enthusiasm and participation, and extend our gratitude to Rob Vissers, Rob van Esch, and Erik Leung for sharing their invaluable expertise.