Insurance companies consume terabytes of information every day in the form of digital data. Valuable data is being provided by more and more sources, which quickly paints a reliable picture of a risk or a submitted claim and makes it possible to filter out unwanted risks and fraudulent claims. State-of-the-art technology is required to process this influx of information and convert it into applicable knowledge and insights. This calls for intelligent software capable of processing information quickly, learning independently, drawing smart conclusions, and making recommendations – similar to a human, but then smarter and more efficient. We can identify roughly three types of artificial intelligence.