Artificial Intelligence continues to demonstrate its significant disruptive potential in multiple industries across the Asia-Pacific region, including healthcare, energy, hospitality and, of course, global finance. With its large-scale, repeatable yet often complex operations, the insurance sector is a prime candidate for disruption as AI begins to unlock the true value of companies’ data, impacting and improving practically every facet of its customer-facing and back office setup.
While there’s a vast array of interconnected AI technologies emerging onto the scene, the following are combining to have a marked impact on the insurance industry:
Machine learning: Training computers to identify patterns in data and/or predict outcomes.
Deep learning: Self-learning modelling of data-based analysis used to solve problems without explicit instructions or frameworks.
Neural networks: Mimicking the composition of the human brain, neural networks uncover patterns in data too complex for humans to code for.
Natural language processing: Tools designed to allow computers (typically chatbots) to understand, interpret, and respond in written text or speech.
Together, these technologies and others are combining to place powerful new tools in the hands of insurers, who can better understand the needs of the customers and present them with better products and customer experiences (CX) as a result. Read the report to find out more.
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