Mitigateway’s Post

The #InsuranceIndustry was an early adopter of #BigData, but what about AI? At the KPMG US Insurance Industry Conference, a panel of experts discussed the impact of AI on the sector. Scott Shapiro, Principal, KPMG US, shared insights on how the industry has leveraged data to inform decisions for years. With #AI on the rise, it's clear that the insurance industry is at the forefront of innovation. #BigData https://lnkd.in/dy2z9QTn

Like many industries, insurance is dealing with a transformative shift powered by artificial intelligence (AI). But #AI is only as good as the data it’s using to learn. AI models are trained using vast amounts of data—the greater the data’s breadth, depth, and quality, the more accurate the output. CLARA Analytics is revolutionizing the world of AI-powered solutions through our unique contributory database model. In our latest blog post, we dive into the advantages of this approach, highlighting why insurance-specific data training is critical for the best outcomes. Check out the blog post and reach out to CLARA to accelerate your AI playbook to welcome in the future of insurance! #augmentedintelligence #claimsmanagement #futureofinsurance https://lnkd.in/gAnvQ_Xy

Exciting News! Meet Lucy - The AI Insurance Claim Adjudicator Revolutionizing the Industry! Lucy is here to ensure your policies and benefits are administered consistently and free from unconscious human bias. With advanced analytics and scalable solutions, Lucy processes claims efficiently, reducing turnaround times and operational costs. Are you ready to transform your claims process? Learn more about how Lucy can benefit your business: https://lnkd.in/eJzW-fpc #InsuranceClaims #AI #Innovation #ClaimsAdjudication #TechInnovation #LucyAI #DigitalTransformation

Have you ever wondered how you could use AI with policy administration systems? Here's an article I've written for The Money Outlook exploring this very topic. https://lnkd.in/gG2rC4Mt

Following the NAIC model code Pennsylvania Issues 'Expectations' for Carriers Regarding AI Use - Carrier Management https://lnkd.in/eZQ7keb9 #insurtech #abileads #ai

Brilliant AI Case study from the Nordics (biased <3) on how EY helped an insurer harness AI to streamline operations and boost agent capabilities. Highlighting these words, as they grasp our approach to AI: Always putting people at the center: 'EY teams across the Nordics helped the insurer understand that AI, when guided by human insight, serves as a powerful enabler to expedite work.' https://lnkd.in/d_MNAUsR

AI and ML is becoming a part of our lives and the work we do everyday. How are you planning to integrate it into your business?

AI and ML are now being more widely accepted in the industry.

In this gripping CIO Insider India piece, our CTO Saurabh Tiwari explains how AI and Machine Learning are reshaping the traditional insurance practices and enhancing operational efficiency and precision. Writing about the anticipated developments in this space, he quotes "The future trends suggest a move towards personalised product design, leveraging the advancements in AI, particularly in large language models like Gen AI, to cater to individual customer needs effectively." Catch the full story here: https://lnkd.in/d_K37PuN #policybazaar #artificialintelligence #machinelearning #insuranceindustry #tech

"Insurers need to use AI tools that are adapted to the specific problems they are solving" - Roi Amir, CEO, Sprout.ai I recently spoke to Sprout.ai's Roi Amir to learn about how the company is helping insurers such as Generali, AXA and MetLife automate their claims process. The conversation covers: - Challenges claims handlers and insurers are facing with existing processes - How Sprout.ai uses generative AI and large language models - How to overcome challenges with AI including bias, hallucinations and the 'black box' - What decisions should be made by humans vs AI You can read the full interview here >> https://lnkd.in/eMZGzJpm InsTech Robin Alex Zoja Fiona #generativeai #llm #claimsmanagement