Topics Online - Data analytics in the insurance industry Munich Re

A large volume of collated information alone does not guarantee deeper insights. To gain these and use raw data economically, complex analytical methods and intelligent processing are required. Munich Re employs data analytics in many areas and has developed applications from which insurers and insured persons benefit equally. "Examples of artificial intelligence (AI) can be found in various areas of the insurance industry today – for example in underwriting and claims", says Wolfgang Hauner, Chief Data Officer at Munich Re. "AI can support consultants in their work, helping with fact-checking and recommending courses of action, for instance." By contrast, processes in underwriting are becoming smarter: "All the available data and sources are called upon here, improving processes and the customer experience."