Clearcover, a trailblazing car insurance company, has introduced a groundbreaking generative AI solution aimed at digitizing statement collection and revolutionizing the insurance claims process and customer experience.

The AI-driven solution employs large language models (LLMs) to guide a conversational experience immediately following the First Notice of Loss (FNOL). This innovative claims intake tool gathers essential incident information, typically collected in adjuster follow-up calls, to expedite claim processing and payment.

“Our underlying foundation was built with best-in-class technology for digitally native customers, which has enabled us to get ahead of the curve,” said Clearcover CEO and Co-founder Kyle Nakatsuji. “I am incredibly proud of our Product, Claims and CX departments for leaning into this industry challenge and raising the bar for AI insurance solutions.”

As one of the pioneers in insurtech, Clearcover is rolling out a series of AI products to enhance its end-to-end insurance experience. Earlier this year, Clearcover introduced a custom-built claims assistant to support claims adjusters in analyzing files and drafting communications to claimants and their representatives. The company also plans to integrate conversational AI into its mobile app to provide real-time customer support 24/7, with future plans to expand this feature to its agent portal and website.

“By leveraging the power of generative AI, we’re ushering in a transformational way for our customers to share information and self-serve throughout their insurance journeys,” said Clearcover’s Chief Product and Innovation Officer Adam Fischer.

This launch complements Clearcover’s existing digital claims process, Clear Claims™, enabling the company to process claims even more efficiently. Powered by Clearcover’s proprietary machine learning technology, ClearAI®, payment can be issued in as little as 30 minutes on eligible claims, with the company’s record processing time being just 7 minutes.

Clearcover’s commitment to innovation has been recognized, as evidenced by its ranking at No. 56 on the 2023 Deloitte Technology Fast 500 list. Additionally, the company recently joined the InsurTech Coalition to advocate for the responsible use of new technologies in the fast-paced insurance market.

Jerry Claghorn, Senior Director of Product, AI & ML at Clearcover, is slated to speak at the InsurTech NY Spring Conference: Analytics & AI Advantage today, participating in a panel titled, “Talking to Customers with AI.”