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The Rise of Generative AI in Insurance

Dataversity

The global market for artificial intelligence (AI) in insurance is predicted to reach nearly $80 billion by 2032, according to Precedence Research. This growth is being driven by the increased adoption of AI within insurance companies, enhancing their operational efficiency, risk management, and customer engagement.

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The Future of AI and Identity Management in Commercial Insurance Claims

Dataversity

Identity management has been an obstacle for commercial insurance companies for a very long time. The post The Future of AI and Identity Management in Commercial Insurance Claims appeared first on DATAVERSITY. It is obvious that […].

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The Role of AI in the Transformation of the Insurance Industry

Dataversity

The insurance industry has been traditionally conservative with technology advances and hesitant to adopt new technologies. However, times are changing, and artificial intelligence (AI) is gaining much attention from insurance companies, who are starting to realize the important role that AI can play in their operations.

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What Insurers Need to Know About the Risks of AI and Machine Learning

Dataversity

Artificial intelligence (AI) and machine learning (ML) are continuing to transform the insurance industry. But if the proper guardrails and governance are not put into place early, insurers could face legal, regulatory, reputational, operational, and strategic consequences down the road. […].

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Driving Digital Transformation in the Insurance Industry: Embracing AI-Powered Solutions

Dataversity

The insurance industry has witnessed a significant shift in recent years as technological advancements continue to transform traditional business models.

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Modernizing the Insurance Industry with AI and Machine Learning

Dataversity

Insurance is a massive expense for many people. According to a report by the Association of British Insurers, the average cost for comprehensive car insurance across the U.K. Health insurance in the U.K. The post Modernizing the Insurance Industry with AI and Machine Learning appeared first on DATAVERSITY.

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Explaining Explainable AI

Dataversity

As more industries leverage artificial intelligence to support vertical-specific operations, many without experience in managing a virtual agent may soon do so. Just last year, for example, investment in Insurance technology topped $17 billion. However, many […].