Artificial Intelligence

AI in insurance is transforming the industry. InsurTech companies in India are leveraging AI to take insurance underwriting and claims management to the next level. This article dives deeper into the challenges that AI is helping solve in insurance underwriting and claims management.

If the India Brand Equity Foundation is to be believed, there are attractive opportunities in the nation’s near future.

As AI and ML continue to advance, the possibilities for InsurTech innovation are limitless. From predictive analytics to autonomous underwriting and claims processing, the marriage of actuarial sciences with AI & ML promises to revolutionise every aspect of the insurance value chain.

AI algorithms sift through vast amounts of data to generate insights and predictions, individuals' privacy is increasingly compromised. From facial recognition technology to personalised advertising, AI-powered systems continually collect and analyse personal information without adequate consent or transparency

Artificial Intelligence's popularity has skyrocketed in recent months, so much so people have increasingly adopted AI usage in their daily lives. Currently, the global AI market is worth $150.2 billion and is projected to grow 36.8% by 2030 at CAGR.The insurance industry is not so far behind in jumping on the AI bandwagon. As Artificial Intelligence (AI) slowly integrates into various aspe...