AI & Machine Learning

In this week's Six Things, Paul Carroll highlights what AI doesn't do. Plus, how to improve the customer experience; the evolution of frictionless payments; underwriting small business post-COVID; and more.

To keep us from getting carried away, it's good to look from time to time at the failures of AI to live up to the projections -- and COVID is a prime example.

Insurers can use dynamic systems to create and deploy new rating structures attuned to market conditions and consumer needs.

Today’s AI algorithms are built using training data that is often old and inaccurate, which can unfairly boost insurance rates for some.

Using synthetic data means important analysis and innovation can be done without associating particular people with their medical records.

ITL FOCUS is a monthly initiative featuring topics related to innovation in risk management and insurance.

Thanks to four trends, AI can improve efficiency and cycle time and meet policyholder expectations for a streamlined, digital auto claims experience.

Not only does AI improve the speed of crafting policies, the technology can speed underwriting, as well as the claims process.