- “The pandemic’s onset accelerated our innovation efforts, as members sought ways to stay healthy and save money while relying more on digital interaction with their financial institutions.
- We recently piloted augmented reality-enabled glasses with field adjusters. Wearing them, the adjusters’ manager can see the damage without physically being present. The pilot eliminated 160 hours of travel time for four adjusters over the course of three months
- We are now using machine learning to digitize paper medical records and build summaries for applicable life insurance underwriting. This results in a significant reduction in time. Manual summaries took up to five days, but machine learning has reduced the time to one day and improved accuracy.
- SafePilot enables more members to save up to 30% on their auto insurance policies through safe driving. Last year enrollments increased by 200%.
- Our mobile interactions increased by roughly 17% shortly after the pandemic was declared, and use of mobile spread significantly to older demographics; Boomers have become a significant mobile audience”
- “On a recent AI Today podcast Casey Royer from USAA, a large US bank serving the military community, shared his perspective on how the bank is adopting AI, how they’re using AI to broaden USAA banking offerings
- The bank sees AI as one way to help provide more hyperpersonalized offerings, automatic monitoring, as well as improve various back office operations.
- Through these fraud prevention methods, Casey says the bank is able to actively monitor fraud in real time and is saving its customers on average around $100 million a year
- One major challenge they have faced is the access to data. It’s no surprise that USAA has very large amounts of data, but one of the big challenges is having real time access to that data to see what is happening.”
Executive Director – Personalized Experience Management
“Whether Artificial Intelligence (AI) is something you’ve just come across or it’s something you’ve been monitoring for a while, there’s no denying that it’s starting to influence many industries. And one place that it’s really starting to change things is e-commerce.” Readmore and view full size infographic.