EY

Recently deployed capabilities find use cases for the technology in auto and marine coverage.

Both customer-facing and backoffice functions and tasks can benefit from robots. EY lists some common use cases.

Advanced analytics capabilities are the key platform for new products and services, EY’s David Bassi says.

It may seem daunting for carriers to navigate all the advancements happening in technology, but there are key items to keep in mind, says EY's Sophie Yen.

Applications include the faster delivery of claims payments, identifying fraud and leverging connected IoT data for improved actuarial models.

There will be widespread adoption of AI and especially of robotic process automation, as organizations look to boost the value of data, says Christopher Mazzei.

Insurers can expect to receive a lot of update requests during the claims process, and should turn to AI to process them efficiently.

While Silicon Valley aims for raw profits, carriers are looking for revolutionary solutions to improve their producs, say panelists at EY event.

The startup hub will operate as a standalone division of Fintech Australia, a local incubator founded in 2015.

Carriers are working to change the culture around underwriting to be more data-driven, says EY study.