How AI is changing the insurance industry?

AI has the potential to affect the insurance industry in multiple ways. It is currently used in claims processing, underwriting, fraud detection and customer service . For example, to improve customer experience, many insurers are investing in virtual assistants like chatbots.

A recap on the benefits of insurance AI Increased access to data and insights . The right insights to the right people at the right time. Consistent employee performance. Faster, better, data-driven decisions.

Powerful AI-based digital assistants with access to the insurance company system can cater to many customers at once, and they require moments to process and cross-reference different data points . They can process documents and payments, make policy adjustments, and much more.