AI in Insurance

AI in InsuranceRoboticsConnected worldsCustomer ServicesAI based process terrain managementAI based analytical modelsRules based decisioning enginesAI based document automationPhysical botsCognitive botsDronesAutonomous vehiclesPhysical aerial survey post natural catastrophesSelf driving carsHyperaautomationRogue dronesEthically incorrect decision making Remote assessment of disasters for property claimsXXXXAuto payments & collectionsTask estimation & automationData leakageAutomation of mundane tasksFraudHigh operational efficiencyChatbotsVoicebotsVideobotsVoice recognitionDigital twinDeep fakesID theftBehavioural biometrics analysisUpsell / cross sellAdviceFake voice / voice cloningNo manual ID&V requiredIncorrect product recommendationFinancial decisions not in interest of the clientsData based personalised advicePhishingData based product identificationEmpathy, virtual interaction Digital fingerprintsData theftStorage of biometric dataMonitored key strokes, swipe & touch dynamics, mouse behaviour, finger swiping patternsSnooping keystroke latency mimicking user behaviourStorage of biometric dataData theftRobot based attacks to mimic user behaviour Authentication through biometrics validationDetection of online potential fraudulent behaviourSmart home connectivity for property insuranceTelematics for motor insuranceWearables for HealthcareSensors for water & electricity leakageFire & smoke detectorsKeyless entryCCTV camerasData theftInflated data readingsSensor misbehaviourAccess to personal home dataTake over of home & entry accessIntrusive data captureClaims prevention through real time alertsAccess to trusted repair network providersVideo footage for theft & burglary enabling claims approvalClaims prevention through real time alertsAccess to personal home dataCollision management systemsAccess to personal home dataRemote access to vehicleTake over of critical safety featuresStorage & security of personal dataStorage & security of personal dataStorage & security of personal dataStorage & security of personal dataStorage & security of personal dataStorage & security of personal dataStorage & security of personal dataDriver behaviour analyticsAuto claims alerts to insurerUsage based insuranceVehicle usage patternsSmart watches & fitness trackersAutomatic gathering of personal infoLive location trackingPI data theftEnhanced personalised underwriting of premiumsDefining of new customer segmentsBody sensorsAccess to personal dataIntentional incorrect data provisionRemote sensor corruptionStorage & security of personal dataReal time health monitoring & alerts to hospitals, care providers & insurersStorage & security of personal dataImpersonationQuality management Quality assuranceReal time feedback to workforceCustomer feedbackSamplingBias / influenced sampling Results & analyticsInflated negative feedback (volumes & scores)Random sampling Non person dependentDigital process miningProcess mappingComputer visionMonitored key strokes, website trackingTheft of company proprietary dataNon person dependentData theftSnooping keystroke latency mimicking user behaviourInvasion of employee privacyRobot based attacks to mimic user behaviour Process articulation & analysisProcess variance analysisStorage & security of company dataStorage & security of company dataCognitive OCRDocument creation / content management systemData extraction & validationIntroduction of malware in image contentData capture, format & transformationUnauthorised & secure content embedded & distributedAuto generation of documentsData enrichmentIntroduction of garbage data Redaction of text in imagesNon person dependentNon person dependentIncorrect redaction of text exposing sensitive informationStorage & security of personal dataStorage & security of personal dataAdoption of steganographyAdoption of steganographyAI assisted decisioningUnderwriting & pricing modellingDiscriminatory modelsMulti parameter approachData & ID theftAdoption of macro influencers on models Complaints managementIntroduction of biased / discriminatory resultsMulti parameter approachData & ID theftRule set based approach Storage & security of company / personal dataStorage & security of company / personal dataStructured rules based underwriting modelsReal time pay-as-you-go modelsPersonalisation of policy creationStandardised & consistent outputData analyticsFraud analyticsFraudulent invoicing by supply chain management providersImage analyticsLiability prediction & decisioningNew sources of fraud not fed into the models impacting efficacyVideo analyticsLoss estimationEnhanced management of claims lossesReserves predictionIncorrect decisions introducedIncorrect predictions introducedInflated reserves introduced impacting forecasting, top line and P&LLitigation propensityBiases introducedDiscriminatory litigationImage recognition through computer visionBiases introducedReal time estimation of repair costsAuto identification of accident imagesVideo recognitionEmbedding of malwareEstimation of repair costsAuto liabiility decisioning through video analysisEmbedding of malwarePrediction & identification of potential fraudEnhanced liability managementInflated losses introduced impacting company P&LAI in health insuranceDiagnosesIntegration of healthcare & insurersMedical imagingLack of explicit labelling of algorithmsBlack boxing of algorithmsIntroduction of algorithmic biasInclusion of corrupt data leading to distortion of end resultPatient data storage & securityRecognition of complex patterns in imaging dataAccurate & reproducible assessmentsSymptom checkerInclusion of corrupt data leading to distortion of end resultPatient data storage & securityIncreased access to healthcarePatient experienceFraudulent diagnosisPatient data storage & securityStraight through processing (cashless treatmentAdmin tasksFraudulent billing & invoicingPatient data storage & securityIntegrated systems = no paperworkPersonalised health care plansHospital risk & claim preventionReal time alerts for patient troubleLegendRisksBenefitsComponent of the topicSub component of the topic
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