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AI in insurance today

November 29, 2018

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Artificial intelligence adoption in the insurance industry, from carrier to agency, has gone from if to when. 2018 became the year leaders at all corners of the insurance ecosystem had to admit AI is important for the future of the business. The question at the top of the agenda for innovation executive teams is how to select the optimum uses for artificial intelligence services. Part of the answer depends both…

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Insurance is not immune from the changes taking place in every industry from the new artificial intelligence (AI) technologies accelerating the digital revolution. Much of this advanced automation and “intelligence” seemed far off in the future but they have become mainstays in our business processes and our customers’ lives, barely warranting our notice anymore. From speaking to a phone auto-attendant about why we are calling, to systems that scan and…

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Viral, runaway--good descriptions for the growing changes infiltrating the property & casualty insurance field. Month by month emerging tools for insurers are coming to the marketplace, both from established companies expanding their products and upstart insurtech entrants seeking to bring a fresh set of capabilities to the industry. Insurance AI versus ROIThe tough task for agencies and carriers is to know where exactly to invest in the waves of promising…

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Through the third quarter of the year, it’s apparent that 2018 is the year artificial intelligence and smart automation arrives in force to the insurance sector. The number of carriers and agencies creating partnerships and investing in new uses for this revolution is hitting record numbers, with 85% reporting that they are focusing on solving challenges, both longstanding and emerging ones, with the new tools.Sophisticated, self-learning and adaptable solutions give…

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The challenge for insurers is how to meet the increasing policyholder expectations without breaking the bank. At the ready are smart virtual agent tools solve this puzzle while also delivering service cost savings. But how do agencies move forward with these tools and integrate them into current day-to-day operations?Artificial intelligence and the subfields of machine learning and natural language processing have been moving from academia and the research labs into…

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