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Quantum computing in insurance
With all the hype around artificial intelligence’s potential as a differentiator in insurance, the emerging technology is still limited by organizations’ wide-scale use of binary computing—a two-number coding system leveraging the digits 0 and 1 as on and off switches to instruct computers on when to perform complex functions.

Quantum computing can help address these impediments, according to a new Novarica executive report, “Quantum Computing and Insurance: Overview and Potential Players,” by speeding up computing power through qubits—a two-state quantum mechanical system where two possibilities can be true at once. Study authors Mitch Wein and Tom Kramer offer the following five insurance use cases for quantum computing.