Several integrated user stories have popped up recently about the development of technology where insurances are concerned. New deep learning techniques have started to be employed that can mimic the problem-solving capacities and thinking capabilities of the human mind. With this current technology, insurance is slowly moving away from detection and repair and towards prediction and prevention. It will customize user experience with the added advantage of enhanced decision making, lowered costs, and higher productivity. There are 4 AI-related trends that will change the insurance game:
- The explosion of intel collected from connected devices
In industries, sensor equipped devices are already present. But the future will see a boom in connectivity in consumer devices. All human belongings will seem to be connected to personal clouds or systems. The data produced by these will help understand the consumers and their lifestyle much better. This will subsequently help in decoding the possible risks one can expose themselves to according to their daily routine. Continue reading
