insurtech ai
Insurtech AI: Why automation is the future of insurance
Automation is a term thrown around with abandon these days. Indeed, everything seems to include an element of it, and those that don't are seen as slightly archaic and of a quaintly bygone era. Put simply, automation – a process driven by machine learning and AI technologies – streamlines processes, enabling them to be carried out much faster and with far greater accuracy. For an industry like insurance, where the bulk of the donkey work has, for centuries, involved trawling manually through data to decipher results, automation is seen as the silver bullet to the industry's inefficiencies. In the world of technology, everything moves with lightning speed, and the sheer volume of automation technology adoptions since 2020 within the insurance industry has been staggering.