AI, Machine Learning Offer Great Opportunities And Major Risks For Insurers

The promise of artificial intelligence in the insurance industry is threefold: To help insurers get deeper insights into their business and make better decisions. To automate insurer processes and decision-making for increased efficiency and reduced cost. To create a better customer experience that provides more immediate responses and requires less arduous data collection. But with that promise comes risk — perhaps greater than the risks inherent with all new technologies — that the insurance industry needs to consider.