Exploring the Potential of Deep Learning in Insurance - Insurance Insights

Beware shiny new technology and make sure you proceed with planning and a clear understanding of your goals: that was the conclusion from the recent Insurance Analytics Europe Summit held in London. Often when talking about machine learning in insurance, or the deeper neural networks that are shaping up to transform the industry in a more profound way, there's a tendency to be dazzled by the technology and assume that machines will simply replace humans. In fact the reality is more interesting and more complex than that. Deep learning in the last few years has begun to revolutionize computer vision, speech recognition and natural language process and it has already started to disrupt insurance. Deep learning allows computational models composed of multiple processing layers of abstraction.