Artificial intelligence a reinsurance game changer
Friday, 03 23 2018, Category: Technology, Country: World
As the Digital Revolution automates physical labour and drives the computerization of cognitive tasks through the rise of Artificial Intelligence (AI), Chairman and Chief Executive Officer (CEO) of SCOR, Denis Kessler, commented in a recent report that AI and data collection will completely alter asymmetries in insurance transactions and refocus the tasks of industry professionals.
Traditionally re/insurers have relied on information that was “incomplete, static, fragmentary and delayed”, however, the new era of big data and AI enables access to information that’s “comprehensive, accessible from multiple sources, ranked by quality and available on a real-time basis.”
“Information is becoming a commodity, and AI will enable us to process all of it,” he said.