It is important to understand the current and future role of artificial intelligence in insurance.
The recent push towards AI and predictive analytics has changed every stage of the insurance customer lifecycle. From machine learning to better predict and reduce risk to conversational AI for personalized customer service, insurance companies are rapidly implementing AI solutions across their digital ecosystems.
AI and its related technologies will have a seismic impact on all aspects of the insurance industry, from distribution to underwriting and pricing to claims
McKinsey & Co., 2021
Artificial intelligence tends to generate high interest, but with it comes additional confusion. Insurance leaders should understand how different AI technologies are used in different applications, as well as what should be accomplished with AI as opposed to simple business rules. The resources in this section serve as a valuable starting point for insurers seeking clarity and guidance on the vast topic of artificial intelligence in insurance.
Source link
