Liberate’s AI Agents Take Over the Insurance Night Shift
By PYMNTS
AI summary of the source article
Liberate announced that its AI agents have returned over 100 million minutes to property and casualty insurance carriers and brokers by automating routine tasks, such as balance checks and proof-of-insurance requests. Currently, more than 70 carriers and brokers process over 3.5 million monthly transactions on the platform, freeing staff to focus on complex coverage analysis and customer retention. The automation also enables insurers to support customer interactions outside normal business hours and manage extreme claim surges during catastrophic events without adding staff. Insurer Branch reported cutting claim reporting times by 42% after deploying Liberate's digital intake.
Why it matters
Claims speed heavily influences customer retention, with 75% of consumers saying they are very likely to switch carriers following a slow claims process. Industry adoption is accelerating, with 88% of auto insurers and 70% of home insurers using, planning to use, or exploring AI.
Key facts
- Over 70 carriers and brokers run more than 3.5 million transactions monthly on Liberate's platform.
- Branch reduced claim reporting times by 42%, from over 12 minutes to about 7 minutes, using Liberate's agents.
- An NAIC survey shows 88% of auto insurers and 70% of home insurers use, plan to use, or plan to explore AI.