Generali France resorts to artificial intelligence to settle unclaimed life insurance contracts

Generali France has decided to use the IBM Watson system to investigate on the beneficiaries of unclaimed life insurance contracts. This initiative is all the more important as 20% of the beneficiaries of life insurance contracts managed by the company do not show up following the death of the insured.

In France, the unclaimed amount due to beneficiaries reached 5.4 billion EUR (5.9 billion USD) in 2015. To address this situation, the State adopted on 1 January 2016 a new legislation known as "the Eckert Act" which set the deadlines for insurers to settle unclaimed insurance contracts.
Under this law, due benefits and unclaimed for more than 10 years must be deposited into the Caisse des Dépôts.

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