Insurers work to stock data to feed artificial intelligence

It's no secret artificial intelligence is the hottest technology in insurance. Insurtechs and incumbent carriers alike are excited for the technology's potential in underwriting, customer service and claims. However, the relatively new technology does have some shortcomings, experts say. A lack of historical data, insurers' legacy systems and AI's inability to decipher natural language beyond basic speech has stymied the technology's growth. And for all of AI's industry-wide adoption, carriers appear to only trust machine learning to carry out the same tasks as web portals or mobile apps.