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Swedish insurer Folksam embraces Visual Intelligence

03 June 2022 · By Ana Navarrina

The benefits of Artificial Intelligence, specifically Visual Intelligence, applied to the insurance sector, are becoming increasingly well known. The reduction of costs and management times, the reduction of fraud and the improvement in customer experience, invite motor and home insurance companies to apply this technological solution from Bdeo in their underwriting and claims processes.

A movement that is already resonating in the sector and has a new member: Folksam.

Swedish insurers leading the way in innovation

Folksam, one of Sweden's largest insurers, is already working with Bdeo since December 2021. The company specializes in insurance and pension savings and is very popular in the country: almost every second Swede is insured with Folksam, which is one of Sweden's largest asset managers.

With a great sense of commitment to its customers, the company is in constant search of innovation, of technological solutions that allow it to improve its service. In this case, the bet has been made on the Video Inspection service. Thanks to Bdeo, Folksam's administrators will be able to inspect and document damages remotely. The results: faster claims processing, reduced climate impact and increased customer satisfaction.

"After a successful trial period, we opted to introduce video inspection in our regular damage management in home, motor and also construction" said Carina Aho Laitinen, Backoffice Damage Section Manager at Folksam. "We believe that this kind of digital service will become increasingly important for us. Partly because of customer expectations for fast and professional claims resolution, and partly as part of our sustainability work. By replacing physical trips with video inspections, we can help reduce our climate footprint."

CAB Group is already applying Bdeo's Artificial Intelligence, which they see as a critical next step for Folksam, "We are very pleased that Folksam has already initiated this service in its claims management processes," explained Peter Afzelius of CAB Group. "We look forward to extending the collaboration to include Visual Intelligence: image recognition based on Artificial Intelligence. Here, Bdeo's technology platform is leading the way, with a strong focus on creating the conditions for efficient, customer-oriented claims management."

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Visual Intelligence applied to the insurance industry

Artificial Intelligence in general, and Visual Intelligence in particular, are very present in our days. Perhaps, much more than we imagine.