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Monday, October 02, 2023

Using AI to Tailor Your Insurance Policy

The insurance industry is a hotbed of AI and ML innovation and we wanted to know how they’re using the technology to enhance their offering.

In this video, Tom Clay from Covéa explains how using a wider range of data could help providers like them to better assess risk en masse. By getting to know the customer and their daily lives better, it could be possible to proactively anticipate someone’s risk exposure, price accordingly and pay the claims that need to be paid.

It’s an exciting picture of the future for proactive insurance, that should ultimately benefit the consumer.

“We want to get to a point where we’re proactive in anticipating risks before they even occur… where we know when this stuff might happen, and when you marry together customer data and open access data you get a more diverse picture.”

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