Tenfold ROI For Insurers Using Intelligent Solutions

US insurers could collectively boost their annual profits by US$20 billion through the use of intelligent solutions like artificial intelligence (AI), machine learning and data analytics, according to new research from global management consulting firm Accenture. An Accenture report, entitled ‘Reimagining Insurance Processes with Intelligent Solutions’ suggests insurers who embed intelligent solutions into their business processes in order to reinvent the customer experience and drive human-machine collaboration are seeing returns in excess of 10 times their investment. The research also suggests widespread adoption of intelligent solutions could boost industry-wide profitability by between US$10.4 billion and US$20.8 billion.