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How generative AI delivers value to insurance companies and their customers

IBM Big Data Hub

Insurers struggle to manage profitability while trying to grow their businesses and retain clients. Large, well-established insurance companies have a reputation of being very conservative in their decision making, and they have been slow to adopt new technologies.

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Intelligent Operations: The engine behind Digital Transformation

bridgei2i

Intelligent Operations: The engine behind Digital Transformation. The moment of truth in an insurance relationship a customer has with an insurer is when s/he submits a claim and then waits, with bated breath, for the settlement. This moment of truth is now getting shifted irremovably. Author: Prithvijit Roy.

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Examples of IBM assisting insurance companies in implementing generative AI-based solutions  

IBM Big Data Hub

IBM can help insurance companies insert generative AI into their business processes IBM is one of a few companies globally that can bring together the range of capabilities needed to completely transform the way insurance is marketed, sold, underwritten, serviced and paid for.

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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.

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Re-thinking The Insurance Industry In Real-Time To Cope With Pandemic-scale Disruption

Cloudera

The Insurance industry is in uncharted waters and COVID-19 has taken us where no algorithm has gone before. Today’s models, norms, and averages are being re-written on the fly, with insurers forced to cope with the inevitable conflict between old standards and the new normal. . Insurers are thinking on their feet.

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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. In days ahead, digital transformation will be the saviour and guide of the industry.

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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.

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