5 ways AI and data are transforming the insurance space

Data modeling and artificial intelligence are advancing rapidly, and their use is expanding among P&C companies. (Photo: Shutterstock)

In the digital era of innovative products and services, InsurTech technologies are bringing great opportunities to the insurance sector and accelerating the industry’s transformation.

Advances in AI and data science are leading insurers toward the effective use of machine learning, data modeling and predictive analytics to improve back-end processes and streamlining, and automation of the front-end experience for both consumers and insurance companies.