As a data-intensive industry that is inundated with paperwork, insurance is ripe for AI technology. (Fotolia)
Insurance is an industry in transition, as new payment models, government policies and the need to keep costs down work to change the industry as we know it.
Yet, despite mounting pressures from regulators and increasing customer demands, for the most part the insurance industry still clings to manual, labor-intensive processes that chip away at profitability and customer loyalty. The good news is that this is changing. Innovative technologies are opening up new opportunities that are enabling insurers to become more productive, efficient and competitive.
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