BETSIE processed around 1,300 claims during the six-month pilot. Credit: xresch from Pixabay.

AXA UK has launched a new machine learning tool to accelerate as well as improve the accuracy of complex property claims.

Dubbed BETSIE (Buildings Enhanced Triage Steering Intelligence Engine), the platform captures essential data points and simplifies the claims triaging process to streamline claims process without affecting accuracy.

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Developed inhouse by AXA, BETSIE leverages data, analytics, and historical learning to improve the decision-making process and help claim handlers identify the best triage route.

This reduces costs, potential for rework, delays, and the number of questions to be asked from customers, thereby improving their experience.

According to AXA, in a six-month pilot with escape of water claims, BETSIE processed around 1,300 claims and saw a 25% reduction in claims being re-routed.

BETSIE is now processing over 50% of household escape of water claims, AXA added.

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The insurer plans to use BETSIE for its property and weather-related claims such as fire damage, escape of water, flood, and storm damage.

AXA UK executive managing director of claims Waseem Malik said: “BETSIE provides us with a fantastic opportunity to make quicker, more advanced decisions for customers.

“The changes that AXA has already made to our triaging routes in escape of water claims has led to significant cost savings and improved cycle times for our customers, and I’m really excited about the opportunities and benefits that BETSIE will bring across the spectrum of property claims.”