The Role Of Artificial Intelligence In Insurance During This Time Of Crisis

As technology is now being fully maximized due to the coronavirus pandemic, AI systems of today help perform tasks such that if the same task was to be carried out by humans, it would take decidedly longer.

These systems can be designed to incorporate common human intellectual behavior such as planning, understanding, learning, reasoning, and problem-solving. This is why AI has been instrumental in reshaping several industries, including insurance. Today, AI in the insurance sector has transcended several use cases from intelligent automation in the back office to providing virtual assistance on the frontlines.

Let’s see how exactly is AI reshaping the insurance sector.

Risk Assessment and Underwriting

Personalized Offering

Availability

These are just a few of the main benefits of AI. The insurance industry is only just beginning to scratch the surface when it comes to harnessing AI to improve its value proposition. The optimal use of AI and other technology can help agile insurance companies reshape and reposition themselves for a tech-driven future.

Inmediate is an insurtech startup from Singapore that is using the latest technology such as Artificial intelligence, Distributed Ledger, and NLP, making insurance processing fast, cheap, and flexible. That gives for better processes, lower costs, improved time to market, and new revenue opportunities.

Introducing Inmediate: a platform on which customers, distributors and insurers using smart contracts connect. https://inmediate.io