Republish from the special edition of Nextdeal (Issue 560)

Dimitris Mazarakis, CEO Ethniki Asfalistiki

Artificial Intelligence (AI) is no longer a futuristic concept — it is transforming the insurance sector here and now. As AI continues to evolve rapidly, it plays a critical role in reshaping traditional insurance models, improving operational efficiency, and significantly enhancing the customer experience.

At Ethniki Asfalistiki, we view AI not simply as a technological innovation, but as a key enabler in our broader transformation strategy. It allows us to operate smarter, respond faster, and deliver more meaningful value to our policyholders.

Dimitris Mazarakis

Unlocking the Power of Data

One of AI’s greatest strengths is its ability to analyze large volumes of data at scale and speed. AI-powered systems identify patterns and trends that support better risk assessment, more accurate underwriting, and targeted offerings based on real customer behavior. These capabilities are especially critical today as insurers navigate complex risks such as climate change, cyber threats, inflation, and geopolitical instability.

Automation and Operational Efficiency

AI enables the automation of repetitive and time-consuming tasks — from policy administration and claims handling to document processing. With technologies such as machine learning, OCR, and natural language processing, systems can now extract and interpret data from insurance contracts, receipts, and medical documents with high accuracy and minimal human intervention. This leads to reduced processing time, lower costs, and greater service reliability.

Personalization and Customer-Centric Services

AI helps us move beyond standardized insurance offerings to deliver highly personalized services. Predictive analytics models can anticipate customer needs and behavior, enabling proactive communication, personalized coverage suggestions, and more responsive service. This enhances customer loyalty and deepens trust.

Fraud Detection and Risk Mitigation

Advanced AI models are already being used across the industry to identify suspicious claim patterns and detect fraudulent behavior. By analyzing data such as transaction timelines, location consistency, and behavioral anomalies, AI enables earlier and more accurate fraud prevention — protecting both insurers and customers.

How We Apply AI at Ethniki Asfalistiki

At Ethniki Asfalistiki, AI is already delivering measurable results:

• In group health claims, over 60% of new cases are now processed within 24 hours, thanks to intelligent automation.
• In motor claims for minor material damages, 30% of cases are settled on the same day, significantly improving the claims experience.
• With these solutions, we expect to process over 300,000 claims per year, with increased speed, consistency, and transparency.

We are also implementing a dynamic pricing model in motor insurance, which leverages real-time behavioral and risk data to adjust premiums more fairly. This approach supports fleet growth, improves technical results, and strengthens our market position.

A Future-Focused Vision: Technology with a Human Heart

At Ethniki Asfalistiki, success is not measured solely by automation rates or cost savings. We believe true success lies in being there for our customers when they need us most — with empathy, speed, and reliability.

AI is one of the most powerful enablers of this new era in insurance. But we remain committed to applying it with responsibility, transparency, and a human-centered approach. Our goal is to combine innovation with empathy and build long-term trust with every insured person.

As we move forward, AI will continue to be a pillar of our transformation — helping us become more efficient, more customer-centric, and better prepared for the challenges and opportunities of tomorrow.

Read below the article from the special edition of Nextdeal (Issue 560) in electronic format, page 43 (click bottom right to enlarge)