SberInsurance: Save your finances

2023: Reduced payout time to 30 minutes thanks to artificial intelligence

On September 21, 2023, SberStrakhovanie told how artificial intelligence helped reduce the period for resolving insurance claims and subsequent payments under the Save Finance program to half an hour. Customers who have applied for an insured event in the SberBank Online mobile application have such an opportunity.

You can issue an application in a few minutes: the client needs to log in to the SberBank Online application, fill out the application and attach the necessary documents. After that, the AI model analyzes the data according to a certain list of parameters and, if it has no doubts about the information provided and all the papers in place, decides to pay. Thanks to the Fast Payment System, the client receives funds almost instantly. If the model for some reason doubts, the application is submitted to the person.

Artificial intelligence processes more than 40% of such calls. The technology has helped settle more than 1,000 claims.

{{quote 'author = said Alexander Goglenkov, Deputy General Director, Development Director of SberInsurance. | We want our customers to interact as comfortably as possible with insurance products at all stages: from choosing the optimal program to receiving compensation for an insured event. Previously, the process of resolving the insurance event on cards took up to six working days. Artificial intelligence helped reduce it to half an hour, although in some cases this period can be extended. For September 2023, the format is available for the Save Finance program, but we plan to scale it up to other types of insurance - primarily accident protection and voluntary real estate insurance. We continue to train models based on past settled insurance events and expect that new technologies will soon be able to take over applications and other programs, instantly making the right decisions,}}

The "Save Finance" program is the ability to insure money in all your accounts and cards in Sberbank in one policy. The policy protects against unauthorized debits and theft of cash after they are withdrawn from an ATM. Insurance will compensate for the damage, even if a loan is illegally taken in the name of the client or he himself transfers money to criminals, succumbing to their tricks.