Deep Learning in Insurance: Driving Transformation to the Next-gen

The adoption of data analytics in insurance is not something new, and many companies have already embraced analytics and allied technologies. New technologies in insurance have enhanced insurers’ operational efficiencies and customer interaction experience. More recently, Artificial Intelligence and Machine Learning have begun to transform core insurance processes. The growing use of these technologies has taken center stage also because products and services based on the concepts of AI and deep learning offer more personalized experiences, lower operational costs, and help drive revenue expansion.

Key Insights

The most immediate impact of AI can be felt in improved efficiencies, and automation of customer interaction, underwriting and claims processing. Over time, however, its impact will be felt across key areas such as identifying and assessing risks and opening up new revenue streams. Insurers need to look at not only allocating adequately to investments in technology, but also ensure that these investments align with the requirements. Key takeaways from this Whitepaper include:

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