AI: The Foundation of Next-Gen Insurance
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About The Event
Artificial Intelligence (AI) will support insurance professionals – including underwriters, claims professionals, risk managers, finance professionals, marketers, and brokers – in ways never imagined before.
At a basic level, AI can shorten learning curves and provide advice and guidance at all levels from new hires to senior professionals and executives.
AI, including Machine Learning, provides consistency of results in complex situations. This reduces non-productive, menial tasks, freeing the knowledge worker to concentrate on strategic objectives.
Going deeper, AI, including deep analytics and deep learning can understand changes in data and operations by analyzing aggregated data to identify new risk patterns and claim/fraud patterns. This will focus strategic directions, and reduce, or eliminate manual data analysis.
AI, including natural language processing in text or voice, can converse with insurance professionals to provide support, and with customers directly to address a situation or provide direction.
Emerging Cognitive systems – beyond AI - are designed to solve problems by thinking, reasoning and remembering. This approach gives cognitive computing systems an advantage allowing them to “learn and adapt as new data arrives” and to “explore and uncover things you would never know to ask about.”