AI-based virtual assistant and fraud detection for the insurance industry

The insurance industry is a competitive sector that is expected to account for 3.1 percent of Canada’s
Gross Domestic Product in 2021. Leading insurers are investigating how machine learning (ML) may
enhance company operations and customer satisfaction as clients become more selective about
personalizing their insurance purchases to their particular needs. AI chatbots have the potential to
significantly improve consumer satisfaction. Their primary goal is to assist consumers by answering
questions. Chatbots may communicate with multiple users simultaneously and provide information
within seconds. As a result, they are now widely used to enable companies and customers to
communicate on websites and mobile messaging applications. In this project, we will develop an AIbased
chatbot that will provide assistant, support and chatting services to potential customers.
Furthermore, Fraud is one of the most significant and well-known issues confronting insurers. For
each insurer, fraudulent claims may be quite costly. As a result, it’s critical to understand which claims
are fraudulent and which are not. To determine which claims are likely to be fraudulent in this project,
we will use machine learning models. It would aid in the identification of suspicious claims for further
investigation.

Faculty Supervisor:

Nashid Shahriar;Kin-Choong Yow

Student:

Partner:

BlueCouch AI Inc.

Discipline:

Computer science

Sector:

Finance and Insurance

University:

University of Regina

Program: