Information Extraction in Insurance – Claims and Underwriting Emerj

Claims processing and underwriting are two areas of insurance that could benefit from AI-based information extraction/document search software. That said, neither are developed use-cases for AI in insurance right now. This will likely change over time as AI becomes more accessible to businesses, perhaps with autoML or a shift in the culture of innovation at older enterprises. At that point, AI use-cases in insurance will likely move from the cost-saving benefits of document search applications to more complex machine learning systems that involve document search, machine vision, and prescriptive analytics, allowing for capabilities that drive growth, such as tailor-made insurance policies.