Generative AI, Insurance Risks & Cyber Catastrophe Events
Generative artificial intelligence (Gen AI) is no longer a futuristic concept. AI’s potential to amplify systemic risks, such as through polymorphic malware or AI-targeted data breaches
Artificial Intelligence in Insurance
Artificial Intelligence in Insurance – AI-assisted risk assessment can help insurers better customize plans so that customers pay only for what they actually need. It can also minimize human error in the application process, so customers are more likely to receive plans that properly fit their needs.
AI can facilitate the swift processing of insurance-policy claims and automate benefits transactions. It can also regulate a policy’s specifics to further streamline the handling of claims without any human intervention.
AI and ML are employed in various applications in the insurance industry, including fraud detection and prevention, risk assessment and underwriting, customer service and engagement, claims processing and management, as well as predictive analytics and risk management.
In this section, we have collected the most current articles and reviews on the topic of the Artificial Intelligence in Insurance.
AI Liability Directive. 8 Key Highlights and Impact on the European Insurance Market
Insurance Europe has urged the European Commission (EC) to withdraw its proposed Artificial Intelligence Liability Directive (AILD), arguing that it could lead to legal innovation
Generative AI Attracts Increased Venture Capital Funding in 2024
Venture capital funding for generative AI startups is on track to exceed 2023’s record-breaking levels. In the first three quarters of 2024, GenAI startups raised over $20 bn
How Will the EU AI Act Affect the Insurance Industry?
The EU AI Act, published by the European Commission in July 2024, introduces the first regulations on AI development and usage across sectors to protect citizens’ rights
Artificial Intelligence Promises to Revolutionize P&C Insurance Industry
Artificial intelligence promises to revolutionize how P&C insurance business gets done. The exact ways AI will influence business are unknown
Increasing Use of AI Technology Triggers Insurance Claims
Increasing use of artificial intelligence triggers claims across many lines of business. Insurers will need to understand of intended effects
Insurers Accelerating AI Integration in Insurance Customer Experience
Insurance companies have increasingly integrated digital processes into their customer journeys, yet the adoption of AI technologies lags behind
How Insurers Can Get Best Results from Artificial Intelligence Tools?
As the insurance market recognizes the potential of artificial intelligence, there remains uncertainty about how to effectively apply the technology to enhance customer engagement
Value-Creation Potential of Artificial Intelligence in Investment
Challenges in agreeing to a definition of AI reinforce the complexity of determining exactly how managers are using and integrating capabilities
Generative Artificial Intelligence Provides Great Opportunities for Insurers
Generative artificial intelligence is a great opportunities for insurers. AI considered one of the most important technological breakthroughs of the last few decades
Artificial Intelligence Becomes an Unexpected Risk for Insurance
With artificial intelligence practically impacting all aspects of everyday life, the number of insurance gaps when using AI has staggered in recent years
Why Insurers Go to Online Insurance, Telematics & Artificial Intelligence?
Though the stock market is still driven by enthusiasm for artificial intelligence, businesses devoted to insurtech, or the revolution of insurance through technology
Generative AI — Emerging Risks & Insurance Market Trends
As generative AI changes the way companies do business, it is creating new risks and new causes of loss that impact not only the companies themselves
How Can AI Technology Change Insurance Claims Management?
Insurers must embrace Artificial Intelligence technology to successfully navigate emerging transformative trends that are shaping the insurance landscape
Global Generative AI in Insurance Market Size Worth $5,5 bn by 2032
Global Generative AI in Insurance Market size will be worth $5,5 bn by 2032 from its current size of $346.3 mn, and growing at a CAGR of 32.9%
How to Build AI-Driven Finance & Insurance Company?
To build an AI-driven finance organization for the future, it will require a combination of technical and business skills that many finance teams do not have today
How Digital Trust, AI & IoT Technology Can Help Insurance Business?
For re/insurance industry, Digital Trust and Artificial Intelligence are vital for business since access to data is the key component behind risk analytics and automation capabilities
New Trends of Cloud Services – SaaS, IaaS, PaaS, Serverless
Cloud computing services fall into 4 categories: infrastructure as a service (IaaS), platform as a service (PaaS), serverless, software as a service (SaaS)
Artificial Intelligence in Insurance. How Does AI Technology Help Insurers?
Some experts believe that artificial intelligence (AI) could completely disrupt the insurance industry as we know it. So what does the future hold for insurers?
How Life Insurers Can Leverage ChatGPT and AI in the Underwriting Process
Everyone is talking about ChatGPT and how it’s going to revolutionize almost every business sector. The life insurance industry is no exception
EV Insurance. Impact of Electric Vehicles on the Insurance Industry
As the world is gearing up for a shift to allow environment-friendly electric vehicles, the changing landscape presents opportunities for the motor insurance industry
Key Benefits of Innovative AI & Machine Learning Technologies
Artificial Intelligence and machine learning are changing how we live, work and play – for good. Across this wide spectrum of AI, there is a vast and real potential for people
How Voice Could Hold the Key to Preventing Insurance Fraud?
Insurance fraud costs the UK an average of £1.2bn annually. In the last year, fraudulent home insurance claims increased by 45% and according to the 2022 Insurance Fraud
How Artificial Intelligence Can Help Insurers Reduce the Inflation Impact?
Costs for everything from food to healthcare to insurance premiums have increased in the past few years – especially after the 2020 lockdown
Machine Learning in Insurance. AI-Driven Technology for Insurers
Emerging data analytics technologies centred on machine learning bring order and purpose to this unstructured data so that it can be more effectively
Venture capital funding in insurtech startups is stabilizing, driven by breakout-stage startups in Series B and C. Projections indicate it will reach $4.2 bn by the end of 2024
Global cyber insurance and reinsurance industry supported by solid underwriting profitability in 2023 and 2024, with expectations for this trend to continue into 2025
North American life insurer credit losses will remain benign in 2025, despite modest increases due to ongoing pressure on commercial real estate (CRE) assets
Global reinsurers’ profitability will remain strong in 2025 despite lower risk-adjusted prices for most business lines when reinsurance contracts were renewed on 1 January