AI: The weapon of the Insurtechs – Hacker Noon

The topic of Insurtech is raising growing interest. This is mainly due to the immense size and importance of the insurance market, however, can also be attributed to the promising new opportunities offered by new technologies. As we pointed out in our last column "The Five Insurtech Battles", the applications are very diverse and players in the Insurtech space can be roughly divided into five categories. A unifying trait, however, is that many of these Insurtechs have the common approach to tackling their problems by leveraging data and Artificial Intelligence (AI), which we will discuss in more detail below. Insurance companies have always been very professional and efficient IT organizations compared to other industries and data has always played a major role.