How America's Top 4 Insurance Companies are Using Machine Learning

The insurance industry is a competitive sector representing an estimated $507 billion or 2.7 percent of the US Gross Domestic Product. As customers become increasingly selective about tailoring their insurance purchases to their unique needs, leading insurers are exploring how machine learning (ML) can improve business operations and customer satisfaction. The greatest opportunities seem to lie, perhaps unsurprisingly, in claims and underwriting. No other sources have taken a comprehensive look at the impact of AI among the leading insurance companies in the U.S. We researched this sector in depth to help answer questions business leaders are asking today: This article aims to present a comprehensive look at the four leading insurance companies and their use of AI. Our "top 4" rankings are based on the National Association of Insurance Commissioners' 2016 ranking of the top 25 insurance companies.