Top Trends Of Artificial Intelligence In Insurance Industry

The introduction of Artificial Intelligence (AI) into the insurance industry is going to transform the sector and change the customer experience forever. Behavioral policy pricing or value-based pricing will provide personalized data to pricing platforms, for example, people with a healthier lifestyle to pay less for health insurance. The omnipresent IoT sensors are providing the data for value-based pricing. They will allow insurance carriers to price coverage based on real events in real-time using massive datasets. Usage-based or pay per mile car insurance can also be cited as an example.