June 23, 2025Jun 23 A report by Policybazaar explained that claims are the most important part of any insurance policy, and AI is now playing a major role in identifying potential fraud cases early. For instance, in term insurance plans, approximately 11% of cases are flagged by AI for possible fraud, a number that rises even higher to 16% in savings plans. Early detection allows companies to expedite genuine claims. The report added this has led to a 14x improvement in the Early Claims Factor since 2022. View the full article
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