Reimagining Insurance Claims Settlement using Machine Learning By Amitanshu Gupta [MLDS 2020]
Channel: Analytics India Magazine
Date: 03/02/2020

Claims journey is perhaps the most pivotal aspect for any insurance contract, be it motor, commercial or personal health. While the industry has been operating around a manual paper intensive process, there is a steady adoption where insurance agents are relying on their machine counterparts, creating algorithms for fraud detection, claim propensity prediction & eventually setlling claims on behalf of the insurers, not based on heuristically pre-defined rules, but rather dynamically learned patters - that are revealed in historical claims reported. In this talk, I will specifically emphasise on novel methodoligies being employed by Insurers specific to Indian context, around claims settlement in Travel, Motor & Health Insurance verticals. I will also deep dive into the technical cloud architectures employed for deploying the algorithms at scale & monitoring them for any open ends through a robust feedback loop.


Amitanshu heads the New Products and Business Initiatives team at Bharti Axa General Insurance and has a diverse experience in speaking at various data science keynotes for corporates and student groups alike.
After completing his bachelors in Mathematics and Scientific Computing from Indian Institute of Technology, Kanpur (IITK), Amitanshu has extensive experience in both academia and corporates – where he worked across verticals such as Telecommunications, Retail, E-Commerce and Insurance.
In his current role, Amitanshu leads the development of innovative micro-insurance product portfolios encompassing delays (flight delay insurance, cab trip delay insurance etc.), consumer durables & electronics such as gadget insurance, bicycle insurance etc. offering seamless customer claims experience with minimal customer involvement or paperwork.
Prior to this, Amitanshu has lead the end-to-end development & deployment of various Data Products leveraging sophisticated Machine Learning Algorithms on various fronts viz. Chatbots, Voicebots, Recommender Systems etc.
On a typical work day, you can find Amitanshu busy in strategizing optimal insurance cross-sell/up-sell strategies along with hands-on problem solving with Data Science & Product teams while implementing robust data architectures for optimum digital-first insurance product offerings.