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Lemonade Boasts Claims Settlement Speed Record, AI Jim Answers Questions
By Denise Johnson, Claims Journal, February 2, 2017
This post has been viewed 3,767 times.
This post has been viewed 3,767 times.
Recently, Lemonade reported a claim handling world record. The insurer reported a claim settlement speed record – 3 seconds and no paperwork.
According to the insurer, a policyholder submitted a theft claim for a $979 Canada Goose Langford Parka on Dec 23, 2016. Within seconds, AI Jim, Lemonade’s artificial intelligence claims bot, reviewed the claim, cross referenced it with the policy, ran 18 anti-fraud algorithms on it, approved it and sent wiring instructions to the bank, informing the policyholder the claim was paid at replacement cost and closed.
In an effort to learn more about the claims process at Lemonade, Claims Journal set out to interview AI Jim. Here’s what we found out:
- AI Jim can handle an infinite number of claims and is the first contact the customer has when submitting a claim.
- He does work as a team, forwarding claims that require physical repair or additional investigation to fellow team members.
- He can’t divulge details on the 18 algorithms he uses to detect fraud.
- He’s interested in continuous learning.
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