This article was first published on Dataversity. Artificial Intelligence (AI) has been one of the most widely discussed topics in the business world for the past few years. Recently, there have been rumblings of fear and nervousness about AI’s long-term impact. Are we ready? Have
This article was first published on Claims Journal. Every year, organizations pay out millions of dollars in settlements for workers’ compensation claims for services they often shouldn’t. I’m not talking about insurance fraud but rather an unseen problem that routinely balloons out of control. It
This article was first published on Data Science Central. Artificial intelligence (AI) seemingly has been discussed everywhere over the last few years, and now it’s made its way into the commercial insurance industry. Organizations are using AI and machine learning for everything from streamlining operations
The process of making AI systems interact more like humans makes some people uncomfortable, but AI is not about replacing humans. In reality, it is much more about removing the robot from humans. A big part of AI's value lies in automating manual processes and
As the uses for and ultimate value of artificial intelligence (AI) become more widely understood, organizations across numerous verticals, be they insurtech, fintech or healthcare, are seeking ways to implement AI to their advantage — and vendors are lining up to tell them exactly how
While there are many different segments of the commercial insurance industry, they often share a similar story. From my vantage point, the workers’ compensation system was designed to help both injured workers and employers by guaranteeing care and compensation for those injured on the job
The insurance industry has operated with great consistency and clear processes for many years. People may not always like or agree with how things work, but nearly everyone from the consumer to the provider essentially goes with it — no uprisings to drive change, no
Recently, we were able to interview our Director of Data Science, Ji Li, to get his viewpoint on AI, machine learning, and the impact of data science in the insurance industry. Tell us about your background. What started your career in data science? Since I
As Artificial Intelligence (AI)-based solutions are introduced to the insurance industry and a new wave of InsurTech companies rise up, it can be difficult to see the forest for the trees. AI-based products are designed to do a great number of things today: solve complex
Last time, we discussed some of the potential benefits of AI in commercial insurance. Now, let's talk making the business case. Many insurers are hesitant to invest in AI without proof that these theoretically smart systems will yield real-world returns. A mature AI vendor will
