insurer


Big data, analytics comes before artificial intelligence: panel

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Insurers are keen to adapt artificial intelligence in the enterprise, but first they must build up a layer of data and analytics excellence.


Driverless pods plot new course to overtake humans

The Guardian

In a little over two years, a fleet of driverless cars will make its way from Oxford to London, completing the entire journey from start to finish without human intervention, including on urban streets and motorways.


Insurance Customers Need to Get Used to Talking to Machines

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Frustrated with automated answering machines before you finally get to speak with a customer service representative? When it comes to insurance, you'll just as likely end up dealing with a robot as a human within three years, according to a survey by Accenture Plc.


The 'Internet of Health Things' To Be Worth $163 billion By 2020

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In comparison to the struggles the retail space has been having with the blurred lines between digital and physical, the healthcare sector appears to be the throes of a wide embrace of technologies that will alter the way doctors, pharmacies, insurers, and patients connect with each other.


Business and Technology News - ITP Report

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Insurance executives believe that artificial intelligence (AI) will significantly transform their industry in the next three years, with insurers investing in AI to empower agents, brokers and employees to enhance the customer experience with automated personalized services, faster claims handling and individual risk-based underwriting processes, according to Accenture's Technology Vision for Insurance 2017. According to the report, three-quarters (75 percent) of insurance executives believe that AI will either significantly alter or completely transform the overall insurance industry in the next three years. "The adoption of artificial intelligence is gaining momentum within insurance, with executives pointing to AI's potential to revolutionize the customer experience and empower agents, brokers and employees," said John Cusano, senior managing director and global head of the Accenture Insurance practice. According to the report, the rise of AI is creating new opportunities for insurance agents, brokers and employees to deliver a better customer experience, with the technology enhancing the way sales and services are executed, facilitating faster claims processing, and enabling more-accurate, individual risk-based underwriting processes.


Artificial Intelligence set to transform insurance industry, but integration challenges remain: Accenture

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Artificial intelligence (AI) will "significantly transform" the insurance industry in the next three years, with insurers investing in AI to empower agents, brokers and employees to enhance the customer experience with automated personalized services, faster claims handling and individual risk-based underwriting processes, according to a new report from Accenture.


Artificial Intelligence Verticals (I): Insurance – Cyber Tales – Medium

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In spite of those problems, in the last decade, we noticed a new trend emerging. Insurances, in the effort of trying to reduce moral hazard problems, they started offering premium discounts to their final customers in order to get extra information. This occurred either through a questionnaire (asking directly the customer for further data in exchange for a lower price) or indirectly through devices (healthy devices, black boxes, etc.). The real issue though has been the engagement side of this proposal, because of the opposite nature of information, rewards, and human nature. The rewards offered were indeed either temporary or provided only once and people got lazy very quickly, while the information stream needed to be constant.


Sweet dreams – Using machine learning to eliminate pricing nightmares

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How do you price a product when you do not know how much it costs to produce? This is a problem the insurance industry faces every day. While most industries know the cost of materials, labor, and profit margin to calculate the price of their products, insurance does not know the cost of the product when it is sold. The true cost of the product may not be known for many years once all the claims have been paid. Hence insurance companies, and specifically actuaries, rely heavily on using historical data to predict future behavior to create premium rates to price its products.


Artificial Intelligence Ties Liability in Knots - Risk & Insurance

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Despite dire predictions of an "Automation Apocalypse," it turns out that automation has only obliterated one job in the last 60 years.


Will robo-advice make human insurance agents vanish? - Accenture Insurance Blog

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From Siri to our investments, the use of artificial intelligence to make decisions has expanded rapidly in the last five years. As we've seen in this series, this trend is just starting to reach the insurance industry. Insurance agents working today could be forgiven for wondering if a robot will put them out of work in the coming years.