AI & Machine Learning

The key is to use AI and the cloud for agile, incremental improvements that allow a "perform while transforming" journey. 

Striking a balance between AI-driven interactions and authentic human experiences is vital for earning customer trust and maintaining empathy.

AI in pricing represents a breakthrough, with some insurers already shifting to automated solutions that promise more accurate risk assessment and increased profitability.

Generative AI enables self-learning models that continuously refine themselves using multimodal data, including text, images, and sensor data.

Successful insurance companies will leverage AI for operational efficiency while retaining human oversight to address its limitations.

Historical data offers outdated information. Real-time data keeps you informed of changes to a policyholder’s risk profile, letting you adjust premiums. 

Here are five ways to use insurance data to gain insights on claims, underwriting, marketing, and operations and gain a competitive advantage.

New product technology are addressing the traditional pain points of data analysis, model development, and risk assessment for life insurance actuaries.