Insurer IAG has implemented generative AI to enhance operational efficiency, achieving a 60% reduction in claims review times. At an investor day, COO Neil Morgan emphasized the company's inclusive approach to AI, aiming to empower all employees with AI tools.
According to Morgan, generative AI initiatives are categorized into three areas: deploy, shape, and compose. The 'deploy' category focuses on leveraging existing enterprise applications, with tools like Microsoft Copilot being utilized alongside partners such as New Relic and GitHub.
In the 'shape' category, IAG has developed a custom bot-builder named 'Geni', tailored to address specific business needs. Furthermore, the company has trained 150 'activators' to assist employees in building AI solutions using low-code and no-code platforms.
Under the 'compose' category, IAG is investing in advanced AI capabilities, with over 100 use cases currently in trial or production. Morgan noted that AI tools have significantly streamlined claims correspondence processes and improved marketing material efficiency.
In addition to AI, IAG is undergoing a broader transformation, consolidating its technology stack to enhance features like claims tracking and digital lodgement. Morgan reported the decommissioning of nearly 300 older systems as part of this effort.