To be competitive, companies need to offer the best, most seamless customer experience possible. Today, AI can be a key resource in boosting the insurance buying experience. For example, powered by AI, chatbots can provide instant responses to queries and, when needed, route the inquiry to another specific person/department. (Credit: GarryKillian/Shutterstock)
Artificial intelligence (AI), where machines can effectively mimic the cognitive function of the human mind, is the driving force behind machine and deep-learning technology. Simply put, AI is a set of digital tools that make machines smarter, allowing them to perform certain automated activities that would normally require human intelligence.
Leveraging AI
The insurance sector is a highly competitive industry. More than ever before, a greater number of carriers and wholesalers are looking to write new business and retain customers by rolling out enhanced products and services to better meet the evolving needs of the market and deliver more value. But in an overly saturated field of competition, how is it possible for one company to gain an advantage over another?
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