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.”
Companies In This Post
- Juniper Research: Digital Identity Verification Checks to Pass the 70 Billion Mark in 2024, as Businesses Prioritise Fraud Prevention Read more
- Pie Insurance Appoints Audra Foglietta as Chief Financial Officer Read more
- Triterras Announces the Appointment of Vinay Kapoor to Executive Vice President Read more
- Exchange Bank Taps Pidgin to Provide Real-Time Payment Options for Customers Read more
- Kroll Launches Detection and Response Maturity Model and Finds 91% of Businesses Overestimate Their Cyber Maturity, Increasing Their Vulnerability to Cyberattacks Read more