Entrepreneurs and investors are developing new ways to win insurance customers by applying technology, process, data, and yes, even human beings, more efficiently.
These use cases illustrate how implementing AI now benefits short-term carrier ROI while positioning those companies to be more sophisticated over time.
Advisory organizations perform some of the same functions as statistical agents, such as developing statistical plans and collecting data from insurers.
Unseating an incumbent insurer while lacking the data required to make the most accurate decisions regarding risk selection and pricing is a challenge.