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How technology, data and AI will completely change insurance (Includes interview)

#artificialintelligence

The potential of AI for insurance is enormous, especially as many insurance processes are data-intensive and often repetitive. Many customer inquiries, claim reports or data analyses could theoretically be standardized and automated - ideal prerequisites for using intelligent machines. Smart algorithms will help identify insurance fraud faster and assess risks more accurately. This allows AI to be used to create personalized products. In combination with sensors and IoT, AI also helps to prevent fraud.


Tencent to offer insurance on WeChat in H2 2017

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What you can find in the "9 cell grid" of WeChat Wallet interface are the highly valued self-owned and third party services. The already crowded "9 grid" is having a new addition. Previously, AWTMT.com reported that Tencent will be providing insurance products on WeChat's Wallet in the latter half of the year. Taiwan's second largest financial company, Fubon Financial Holding, has struck an agreement with Tencent to provide the above-mentioned insurance products with its subsidiary in China, Fubon Insurance. According to an internal staff from Tencent, they are currently applying for licenses from the relevant regulatory authority, and the launch of the said insurance products have been delayed due to the wait for the licenses.


MediaTech Insurance Insurance from La Playa: Insurance with Intelligence

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If your work involves selling your knowledge, services and expertise to others, then Professional Indemnity Insurance (PI) is a must. It's an essential piece of armour for anyone who could be sued for making a mistake. What if you're sued for breach of contract, or a dispute with a client threatens to escalate? Will your brand and key relationships survive a very public spat? Intelligently structured PI insurance with Brand Protection cover can help.


Japan starts talks on farmer income insurance in response to TPP

The Japan Times

The government and the ruling bloc started talks Friday on a proposed insurance program to cover possible falls in farmers' income stemming from free trade deals. The insurance scheme is intended in particular to help cushion any impact on farmers when the Trans-Pacific Partnership agreement comes into effect. The farm ministry presented a draft of the insurance system at a meeting of the ruling Liberal Democratic Party on Friday. According to the draft, the insurance will guarantee at least 80 percent of average annual income for each farmer over the last five years. The draft was met with generally positive reactions at the LDP meeting, but questions were raised about the difference between the new system and the existing compensation system for farmers.


AI in Insurance: How Artificial Intelligence Will Transform Insurance in 2020

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This is done by first bringing in data from various sources in one central location. The data is then mapped to each user which inturn enables insurance marketers to derive meaningful insights. These insights further propel the creation of personalized campaigns for every individual user. Powered by Ramanujan AI, Lemnisk CDP is built to deliver millions of hyper-personalized campaigns at scale. Every insurance customer gets their own unique and contextually-relevant offer which is bound to attract engagement and eventually conversions.