The new automation tool, to be powered by Rainbird, will make it possible for the insurer clients of DAC Beachcroft to sort potentially valuable recovery claims, unlocking greater returns and significantly reducing recovery timescales.
Rainbird’s intelligent automation platform will look to combine the logic, ambiguity and rationality behind human-made decisions with data, enabling AIDan to increase speed and accuracy of decision-making in the triage process, while retaining full interpretability over those decisions.
“Our latest tool is all about finding a way to make technology deliver value for our clients,” said Peter Allchorne, insurance partner and head of DAC Beachcroft’s Innovations Lab.
“By adopting further automation, we are helping our clients triage claims more quickly, saving them time and money by generating informed, automatic decisions about the viability of recoveries right from the start.
“This frees up capacity in their teams, and our teams, to focus on those recoveries that have the best prospects, increasing recovery speed and amount for insurers.”
James Duez, CEO of Rainbird, commented: “I am very excited by this partnership. DAC Beachcroft’s clients will truly benefit from the synthesis between the firm’s deep domain expertise and our intelligent automation technology.”
Insurtech case studies — innovation in action
Automation in the insurance space
AIDan’s arrival into the insurance market comes as DAC Beachcroft’s Innovations Lab seeks to build on the success of its award-winning BAIL tool, which helps insurer clients quickly and accurately resolve liability in motor accidents.
The BAIL tool was produced and deployed as a result of a collaboration with Insurtech startup Automated Insurance Solutions, and was also powered by Rainbird.
“Using technology as an enabler to enhance our services to our clients is crucial,” said Brian Pearse, chief operating officer of DAC Beachcroft’s Claims Solutions Group.
“The Rainbird platform augments the human element of decision making to increase speed, precision and quality. It replicates the process for us and provides a full explanation about how it arrived at a decision, helping to support the decisions we take and equipping our teams with additional data-driven advice to take to our clients.
“We are very excited to explore how we can use this platform to help our clients find solutions to their problems.”
Craig Dickson, CEO of DAC Beachcroft’s Claims Solutions Group, added: “AI-powered tools and solutions add another string to our innovation bow. The potential applications of the Rainbird platform are endless.
“We are looking at how we can further develop BAIL and AIDan to add even more functionality and adapt them for other uses. We also want to take this technology to our clients and work with them on co-created new solutions.”