3 Reasons Insurers Should Implement AI Into Core Systems
By Digital Insurance
From underwriting to claims processing, the insurance industry is on the cusp of a seismic shift. Traditional processes which rely on rules-based engines are being replaced by artificial intelligence and deep learning models – condensing weeks of work into a matter of days or even minutes.
For many insurance companies, the AI revolution is already well underway in claims processing and distribution – particularly aroundfraud detection. Accurately detecting fraud depends on being able to analyze huge quantities of data to spot anomalies. So, replacing multiple databases, pivot tables and spreadsheets with dynamic AI-based applications is an obvious place for insurers to start their AI journey.