Canadian Underwriter

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AI

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Claims talent spread thin? No worries: digitize your claims triage

December 5, 2019 by David Gambrill

With talent spread thin in greying claims departments, insurers are looking to use AI to help digitize their claims triage process and other workflows. Officially, it’s called “intelligent process automation” (IPA),” a combination of workflow processes, automation and artificial intelligence

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What insurance executives fear will make them go out of business in 5 years

November 27, 2019 by Jason Contant

Forget about attracting talent, keeping up with rapid change, or complying with a myriad of regulations – what’s really keeping insurance executives up at night is scaling artificial intelligence (AI) for their business. According to a recent report from Accenture,

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Focus on these three areas when developing AI best practices

September 17, 2019 by Jason Contant

Financial institutions looking to adopt and develop best practices on the responsible use of artificial intelligence (AI) should focus on three areas: explainability, bias and diversity, experts say. A new TD Bank Group survey of 1,200 Canadians found that a

News ClaimsInsuranceRestorationTechnology

How AI can help shape a more effective disaster response

June 7, 2019 by Jason Contant

Artificial intelligence (AI) should be used not only to predict what will happen, but to shape and influence that outcome, the president of IBM Canada said Wednesday. “Predicting it is good, but the value that you get as an enterprise

News InsuranceTechnology

How AI can connect the dots between your systems

April 26, 2019 by Jason Contant

Artificial intelligence (AI) should be used to “connect the dots” between different data silos and decisions made within an insurance company, Charles Dugas, head of insurance at Element AI, said last week. The goal is to develop a system that

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How Intact is promoting Big Data and actuarial training

January 21, 2019 by Jason Contant

Canada’s largest insurer has teamed up with a Quebec university to establish two new chairs in artificial intelligence (AI) and actuarial science. Intact Financial Corporation and Université Laval announced Friday: The Natural Sciences and Engineering Research Council (NSERC)/Intact Financial Corporation

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Why future AI will involve less data

January 14, 2019 by Jason Contant

Machines and applications with artificial intelligence (AI) capabilities will soon rely less on bottom-up big data and more on top-down reasoning that more closely resembles the way humans approach problems and tasks, Accenture said Monday. “We will have top-down systems

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One way of predicting whether a computer will take your job

June 15, 2018 by Greg Meckbach

Despite a general consensus that many insurance tasks traditionally performed by humans will soon be done by computers, software still lacks some key human attributes, speakers said Wednesday at an industry panel. “If you are good at following and memorizing

News InsuranceMarkets / Coverages

Is investing in AI worth it for Canadian insurance carriers?

June 12, 2018 by Jason Contant

While the vast majority (94%) of Canadian insurance professionals surveyed believe that artificial intelligence (AI) will transform the insurance industry, the jury is still out on whether carriers are receiving a return on investment from analytics yet. Insurance Nexus released

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Patience urged of insurers who don’t see value in their early AI investments

June 5, 2018 by Jason Contant

Despite all the hype about artificial intelligence (AI), and the significant investment in it, most global insurers don’t think they are getting value from their investment. In fact, 85 per cent of more than 1,000 global executives polled by McKinsey

News BrokersInsuranceMarkets / CoveragesTechnology

Here’s a way small brokerages can afford AI

June 4, 2018 by Jason Contant

Budget may not be a big concern for larger companies looking to incorporate artificial intelligence (AI) into their operations, but is AI cost-prohibitive for small, local brokerages? “I don’t think you need a massive budget to do some of this

News InsuranceTechnology

How AI can help you find the hot sales leads

May 30, 2018 by Jason Contant

Looking for a hot lead? Why not let a machine do that for you? Brokers and insurance companies can use artificial intelligence (AI) to cull prospects who are showing a keen interest in buying insurance products, Andrew Lo, president and