Machine learning

As the effects of the pandemic continue to play out, market activity indicates commercial lines insurers are reprioritizing their tech-oriented projects, with some plans continuing to move forward while others have slowed down.

There are vital aspects of business that have virtually stagnated despite the high-tech breakthroughs all around them. In insurance, it’s easy to spot: the process for managing risk transfer still relies on technology better suited for the 20th Century. It’s time for an upgrade.

Companies create a more customer-friendly, digitally-focused roadside assistance experience.

Deciding which transformation initiatives to tackle first should involve a careful examination of the dysfunction, importance and level of change resistance expected among stakeholders of any process that may be impacted.

Digital Insurance spoke with Maroun Mourad, president of global underwriting and leader of the life unit at Verisk about life insurance technology and what’s ahead for the industry.

In other news: Algorithm calculates number of good health years; Hiro rebrands to Locket; Alliant launches diversity initiative.

Three years ago, Amazon.com Inc. issued an invitation that seemed too good to pass up: Start your own company and earn as much as $300,000 a year delivering packages for the world’s largest online retailer.

In other news: Amerisure implements One Inc ClaimsPay tech; California drivers report distracted driving is getting worse; HSB adds social media income to home cyber protection.

Jerry launched a car insurance comparison service in 2019 using artificial intelligence and machine learning. The company has more than 1 million customers across the U.S. and has expansion plans.

A new report, IT’s Changing Mandate in an Age of Disruption conducted by the Economist Intelligence Unit, supported by Appian, suggests that to continue with various digital transformations and increase adaptability for the future, some IT improvements must be made.

Not only does the quality of the data impact a carrier’s bottom line, it also affects their customers’ experience.

The most likely outcome is that it will fuel a transformation in the roles and responsibilities assigned to actuaries.

And where can insurers deploy them for the most value?

The goal of every claims organization has been and will remain quickly adjusting a claim at a low cost with high levels of customer satisfaction.

Now more than ever, organizations realize that to manage their unprecedented data growth, a solid data strategy must be front and center for them to survive and thrive.

Looking ahead into the new decade, we will begin to see an acceleration of AI adoption as the lines between data and AI begin to blur.

Nearly two-thirds of carriers surveyed overall are adopting AI and machine learning technology.

Here’s a look at two use-cases for AI in health insurance that are starting to make headway.

The life insurer's DevelopU initiative, an internal university, helped it shift from "what happened" to "why it happened," speakers said.

Data quality and customer-centricity are crucial to getting value from initiatives.