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Artificial intelligence offers the insurance industry exciting new services, solutions and risks.

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Intelligent solutions Intelligent solutions could enable whole new levels of personalization and convenience for the customer and transform a host of insurance business processes. (Image: Shutterstock)

By embedding intelligent solutions such as artificial intelligence (AI), machine learning, and analytics into every business process, insurers in the United States could increase annual profitability by as much as $20 billion, according to new research by Accenture.

According to Accenture, insurers that use intelligent solutions to reinvent the customer experience and drive human-machine collaboration are achieving returns in excess of 10 times their investment and could increase industry-wide profitability by between $10.4 billion and $20.8 billion.

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