INSURANCE
“ WITH A FEW EXCEPTIONS , ESTABLISHED INSURANCE COMPANIES AREN ’ T CONFRONTING THE FACT THEY NEED TO BECOME TECHNOLOGY COMPANIES ”
LEON GAUHMAN CHIEF PRODUCT AND STRATEGY OFFICER , ELSEWHEN
insurance underwriting , claims processing and fraud detection ,” explains René Schoenauer , Director of EMEA Product Marketing at Guidewire .
“ Expect to see more progress here from how insurers use more AI and ML to streamline these processes . What is being done here is how analytics becomes more embedded in how an insurer manages a policy and processes a claim and is understanding and applying risk insights . AI can do the job of effectively aggregating , sorting , and finding patterns within large sets of data . When analysing big data using AI and ML , it helps insurers to see the patterns in the data , embed the insights directly into operational policy and claims workflows for improved process efficiency through better decisions or increased automation .”
Gauhman continues : “ Most insurance companies have a customer portal where customers can upload documents . But this is merely scratching the surface of digital transformation . From claim to settlement ,
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