SV Versicherung uses Cognotekt AI
SV Sparkassenversicherung is one of the largest public insurance companies in Germany, with some 4 million customers. The company has initiated a pilot project using artificial intelligence (AI) in its claims management process. The project focuses on the billing of automotive glass damage, where the subsidiary SV Informatik uses an algorithm for reading and checking submitted workshop invoices. The AI technology comes from the company Cognotekt.
The system needs to be able to understand the often inconsistent service descriptions in the documents created by glass repair workshops. It then needs to compare these with repair instructions of the original equipment manufacturer. In this way the insurer seeks to detect if a repair of glass damage was wrongly billed. It is anticipated that using this technology the costs for processing claims should fall significantly.
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