(By Navdeep Arora)
Artificial Intelligence (AI) is revolutionising different industry sectors through unprecedented improvements in accuracy, speed, and cost of doing business. Indeed, AI has become a buzzword in the Insurance sector. Whilst the improvements so far have come from tailoring products to the customers, early fraud detection, and automation in underwriting and claims management for simple insurance products like term life, personal accident, auto and home insurance, the magic of AI is here to stay and transform the role insurance plays in our lives as the insurance sector continues to adopt and refine various AI related capabilities to meet our needs.
