LV= provides world-class claims handling with Microsoft Artificial Intelligence and Machine Learning

In approximately 20% of motor vehicle accidents, there’s a grey area of who's at fault. And it’s during this period that those minority of LV= customers faced a long and often arduous journey to settlement.  “We needed a different way of doing business and a different customer experience,” explains Martin Milliner, General Insurance Claims Director at LV=; “We worked with our data scientists and Microsoft Services coming up with an industry leading, not just UK industry, but worldwide leading solution.”

Using Azure Machine Learning services, LV=  take a number of data points during the claims process. "We're taking verbatim text where customers explain to us how the accident happened, we're augmenting it with image data, and damage information about the vehicles in question." explains Milliner. And the results have been incredible. Milliner continues, “Using these tools, we've gone to an outcome where that 20% of no-man's land customer experience is now reduced down to just 3.9%.”

LV= has seen a reduction in claims costs, an increase in revenue, and its NPS scores increased by a double-digit amounts. The impact has been felt throughout the organisation. “We've been inundated with requests from other departments, other teams looking to do something similar, so there's a lot of big things coming from the team” continues Milliner. “This is a very complex problem that we've solved using people, technology and data and that paves the way for a different future."