article thumbnail

Automated Sales & Underwriting Strategies can Transform Insurance

bridgei2i

Automated Sales & Underwriting Strategies can Transform Insurance. One of the major repercussions of the COVID-19 pandemic in financial sectors has been the increase in awareness about insurable risks across categories and markets. Images 1: Challenges before insurance industry in the post-Corona world.

article thumbnail

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance

bridgei2i

Adoption of Automated Sales & Underwriting Strategies can Transform Insurance. The insurance industry—which, in the US alone, stands at $1.2 trillion, is seeing the volume of insurance transactions growing every year. Images 1: Challenges before insurance in the post-Corona world. click here.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Expion Health revamps its RFP process with AI

CIO Business Intelligence

On behalf of insurance carriers, pharmacy benefit managers, and other healthcare payers, Expion negotiates prices with pharmacies and medical practices based on volume discounts and other factors. Automation, and generative AI in particular, can transform the insurance industry, he adds.

IT 109
article thumbnail

Prioritizing Data: Why a Solid Data Management Strategy Will Be Critical in 2024

Ontotext

In 2023, data leaders and enthusiasts were enamored of — and often distracted by — initiatives such as generative AI and cloud migration. This is because although generative AI can replace people in some cases, there is no professional liability insurance for LLMs.

article thumbnail

American Honda IT to fuel innovation with generative AI

CIO Business Intelligence

Generative AI takes a front seat As for that AI strategy, American Honda’s deep experience with machine learning positions it well to capitalize on the next wave: generative AI. The key to a successful AI strategy, in part, is the quality and cleanliness of both structured and unstructured data, he says.

IT 122
article thumbnail

Why Financial Services Firms are Championing Natural Language Processing

CIO Business Intelligence

billion in cost savings for the insurance industry as well during the same period. . For banks, brokerages, insurance companies, fintech firms, and other financial services organizations, NLP is increasingly being seen as a solution to too much data and too few employees. The same study estimated that chatbots would lead to $1.3

article thumbnail

Covid Data: An anomalous blip, or the new normal?

Cloudera

These include the use of more data sources to gain insights and how cloud technologies can assist with digital transformation goals to be more agile and achieve objectives more quickly. Data Variety. Insurance and finance are two industries that rely on measuring risk with historical data models. Insurance .