Insurers embrace Artificial Intelligence
Friday, 04 14 2017, Category: Technology, Country: World
Insurers are using artificial intelligence (AI) for example to increase efficiency in the claims process raising potentially unjustified fear among staff of being made redundant, executives noted during a roundtable organised by Intelligent Insurer.
Recent developments in artificial intelligence—in particular the creation of so-called ‘self-learning’ machines, are opening new opportunities in the re/insurance world.
Japan-based insurance company Fukoku Life Mutual, for example, invested in a new AI system based on IBM’s Watson Explorer, which is alleged to possess “cognitive technology that can think like a human”, and is purposed to calculate payouts to policyholders.
Source: Intelligent Insurer