Artificial Insurance? How Machine Learning is Transforming Underwriting

For an industry that has proven resistant to change for centuries, insurance is now undergoing a digital revolution. With the advent of more machine learning algorithms, underwriters are bringing in more information to better gauge risk and offer more tailor-made premium pricing. On the back end, the insurance process is being streamlined to connect applicants with carriers more efficiently and with fewer errors. This drastic level of rapid change means big things for insurers and applicants alike. Here's how artificial intelligence, or AI, is on the frontier of the insurance industry and where it might be heading in years to come.