AI & Machine Learning

Agent and Brokers Commentary: July 2023

Emerging microsegments can be lucrative opportunities for insurers. But targeting them requires fast and accurate technology to assess the risks,

Severe environmental threats, together with Australia’s regulatory landscape, have catalyzed insurers to adopt new technology quickly.

The concept is widely adopted in manufacturing and supply chain. Insurers that integrate digital twins will significantly out-compete rivals.

Life and health insurance can improve the underwriting experience using AI-driven facial analytics … and a simple selfie photo.

“I think you are going to start to see CEOs who are hired for their ability to use AI in the very near future."

Social inflation, fueled by third -party litigation funding, added more than $20 billion to commercial auto claims in the 2010s.

Investments in AI are expected to save auto, property, life and health insurers almost $1.3 billion in 2023, up from $300 million in 2019.