Bruce Burke’s Post

"Artificial intelligence (AI) and geospatial imagery are revolutionising the insurance industry, enhancing everything from underwriting and risk assessment to claiming processes. By integrating AI with high-resolution geospatial data, insurers can gain unprecedented insights into the specific risks associated with a given location." https://lnkd.in/gs_tE7sE

Ecopia AI is leveraging AI and geospatial imagery to help insurance companies with risk prediction, pricing, and underwriting. By analyzing previous data points, historical claims data, and on-ground geospatial imagery, insurers can predict risks more accurately and price their policies accordingly. https://lnkd.in/ecBPJR7w #insurtech #insuranceagent #insurancebrokers #GenerativeAI

Ecopia AI is leveraging AI and geospatial imagery to help insurance companies with risk prediction, pricing, and underwriting. By analyzing previous data points, historical claims data, and on-ground geospatial imagery, insurers can predict risks more accurately and price their policies accordingly. https://lnkd.in/eJzUE8dG #insurtech #insuranceagent #insurancebrokers #GenerativeAI

"Delegate repetitive tasks such as data entry and basic research to AI. By automating these time-consuming activities, you free up valuable time to engage more deeply with clients, allowing you to strengthen relationships and provide higher-value advisory services."

I’m always keen to learn more about how AI is being used in innovative and exciting ways. This article in FinTech Global gives a deep dive into how insurers are using AI to streamline the underwriting process and predict risks with greater precision than ever before. Capgemini’s research shows that business leaders are already recognising the vast potential of AI in the insurance industry. In fact, 62% of insurance executives already recognise that AI/ML technology is elevating underwriting quality. Harnessing AI tools in insurance will be critical for modernising core systems and ensuring that AI-data driven insights are employed to drive better outcomes and increased transparency. Read more here: https://bit.ly/3RvICne   #Insurance #AI #Underwriting

The insurance industry is witnessing a significant transformation with the integration of Artificial Intelligence and Machine Learning. These advanced technologies are revolutionizing risk assessment by analyzing vast amounts of historical data, detecting patterns, and predicting changes in risk over time. According to McKinsey's report "Insurance 2030," AI and related technologies are set to revolutionize various aspects of the industry, from distribution to underwriting, pricing, and claims handling. Insurers are leveraging AI and ML to forecast losses, enhance risk models, and combat fraud effectively. Companies like Precisely are utilizing AI technology for aerial imaging, providing detailed insights into structures and potential risks. Through advanced image analysis, insurance carriers can accurately assess building conditions and construction details, such as estimating roof age and identifying fire hazards like combustible vegetation. The incorporation of AI in the insurance sector not only streamlines risk assessment processes but also enhances overall confidence in the data used for decision-making. Stay tuned as AI continues to shape the future of the insurance industry, driving innovation and efficiency across the board. https://lnkd.in/epDCcpe7 #AI #InsuranceIndustry #MachineLearning #RiskAssessment

A #data-driven mindset and strategy, combined with the power of #AI, is transforming the landscape of many industries for the better – the insurance industry is one of them. Insightful article here from Insurance Business Australia on how these tools have been key in navigating complex risk scenarios 👇 https://lnkd.in/eGMGdWqU

Gen-AI is creating a competitive advantage in the Insurance industry by boosting claims-driven innovation, improving predictability of claims outcomes, and powering predictive analytics-based claims triage solutions. As extreme weather and catastrophic events become more common, insurers are doubling down on Genpact’s scalable, data driven AI technology to modernize and evolve their organizations. #Insurance #AI https://lnkd.in/eu4uVHpv

The Growing Importance of AI in the Insurance Industry Artificial intelligence and machine learning (AI/ML) show great promise in transforming the insurance industry’s approach to risk assessment. Advanced algorithms can ingest large volumes of historical data, detect patterns, and make predictions as to how risk might change over the course of time. In a recent report entitled “Insurance 2030,” McKinsey predicts that “AI and its related technologies will have a seismic impact on all aspects of the insurance industry – from distribution to underwriting and pricing to claims.” Today, insurers are using these technologies to forecast losses, refine risk models, and identify potential cases of fraud. Follow this link to read more on this - https://lnkd.in/epDCcpe7

AI Model Predicts Frequency And Severity Of Non-Weather Water And Freeze Claims https://lnkd.in/dS8ftJHK #artificial #intelligence #ai #property #risk #analytics #zestyai #interior #water #freeze #zwater