Automation of Insurance Inquiries: Merkur Innovation Lab Relies on Graz AI Solution
Styrian Alliance for Innovation in the Insurance Industry: The Merkur Innovation Lab and the Graz-based high-tech company Leftshift One, specializing in artificial intelligence (AI), are focused on customer-oriented future solutions in a currently ongoing “Datathon.” The aim is to partially automate interactions between the insurance company and customers based on new technologies.
- 17. October. 2024
Karin Schnedlitz
Content Managerin
While many industries are still searching for their place in the digital age, Merkur Insurance through its Innovation Lab established in 2020, is already working on the customer needs of tomorrow. Together with the Graz-based AI pioneer Leftshift One, the company’s in-house data science specialists are developing AI solutions that will enable automated and personalized responses to customer inquiries in the future. The goal is to leverage all possibilities in the field of machine learning to enhance the customer experience. A multi-day datathon at the Merkur Campus connects the expertise of both companies and sets the course for the future. “Innovation arises in dialogue and ongoing exchange, where ideas are not only gathered but, above all, created. We do this with a focus on the dynamically changing customer needs. Together with the creative force of Leftshift One, we aim to find solutions to automate processes and optimize the customer experience. Artificial intelligence is a tool that can help us in this endeavor,” explains Daniela Pak-Graf, Managing Director of the Merkur Innovation Lab.
"Innovation arises from dialogue and continuous exchange, where ideas are not just collected but, above all, created. We focus on the dynamically changing customer needs. Together with the creative power of Leftshift One, we aim to find solutions to automate processes and enhance the customer experience. Artificial intelligence is a tool that can help us achieve this."
Leftshift One: “Understanding the customer”
The Graz-based high-tech company, Leftshift One, quickly developed an AI-based text comprehension system tailored to the health insurance industry using its proprietary AI operating system and historical data. Through a “Datathon,” new applications are being evaluated. CEO Patrick Ratheiser explains that their AI can automatically assign customer inquiries to the correct topics, whether related to billing or services, providing accurate responses around the clock. VP Stefan Schmidhofer adds that the AI autonomously handles simple requests but escalates complex issues for human confirmation, ensuring data security throughout the process.
"Our system understands the customer and delivers precise, tailored responses—24/7.“
New findings
Through the “Datathon,” Merkur Innovation Lab and Leftshift One aim to discover previously untapped potential and processes that can be reimagined with AI. Schmidhofer notes that they have applied this format across industries such as steel, machinery, and logistics, consistently identifying revolutionary approaches. This makes the “Datathon” an exciting win-win situation for both companies. According to Leftshift One, the results from the event could be implemented into business practices within “a few weeks.”
About Merkur Insurance AG
Merkur Insurance AG is an Austrian insurance company headquartered in Graz. As the second-largest private health insurer in Austria, with over 223 years of experience, the company places the well-being and protection of individuals at the core of its mission. With operations in Austria and Southeast Europe, Merkur employs 1,448 people and generated a total premium volume of €629.8 million last fiscal year. Since 2020, the group’s headquarters has been located at the new Merkur Campus in Graz.
About Leftshift One
Founded in 2017 in Graz, Austria, Leftshift One currently employs 35 people. The company is responsible for Europe’s first generic development platform for custom AI applications. Led by CEO Patrick Ratheiser and CTO Christian Weber, Leftshift One was recognized by Forbes as one of the top 30 AI companies in Europe in 2020. Key supporters include renowned investor Hermann Hauser and the international investment group eQventure.
Photo credits:
Photo 1: AI Quartet: Harald Neubauer and Daniela Pak-Graf, Managing Directors of Merkur Innovation Lab, with Leftshift One Vice President Stefan Schmidhofer and CEO Patrick Ratheiser (Photo: Merkur)
Photo 2: Customer interactions will be semi-automated based on AI-driven text understanding (Photo: Merkur)