These use cases illustrate how implementing AI now benefits short-term carrier ROI while positioning those companies to be more sophisticated over time.
Since insurance companies started to adopt bots powered by Artificial Intelligence for customer service and claims about three years ago, the hype around AI in insurance has been building.
While cautious observers have been building the hype, smart carriers have found ways to recognize value by working with AI-focused startups.
>There are two kinds of companies that are using AI to deliver value to insurers right now. First, there are startups that independently create more accurate data using AI. Re/insurers can then use high-quality data in their processes, instead of traditional, lower quality data. Second, there are startups that apply their AI technology directly to the data and processes of insurance companies.