Keyword
AI
How AI can connect the dots between your systems
April 26, 2019 by Jason ContantArtificial 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…
How Intact is promoting Big Data and actuarial training
January 21, 2019 by Jason ContantCanada’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…
Why future AI will involve less data
January 14, 2019 by Jason ContantMachines 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…
One way of predicting whether a computer will take your job
June 15, 2018 by Greg MeckbachDespite 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…
Is investing in AI worth it for Canadian insurance carriers?
June 12, 2018 by Jason ContantWhile 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…
Patience urged of insurers who don’t see value in their early AI investments
June 5, 2018 by Jason ContantDespite 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…
Here’s a way small brokerages can afford AI
June 4, 2018 by Jason ContantBudget 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…
How AI can help you find the hot sales leads
May 30, 2018 by Jason ContantLooking 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…
Now with AI, you can create value for your property inspections
March 26, 2018 by David GambrillArtificial intelligence can now surgically identify Canadian homes and businesses in an insurer’s book that are most in need of inspection, thereby eliminating unnecessary home inspection orders. “Sometimes the industry will pay to have an inspection done based on criteria…
At least two cool ways that AI can help insurance companies
February 28, 2018 by Jason ContantMachine learning could be used to underwrite faster, reduce fraud and assess vehicle damages more accurately, Lawrence Wong, Munich Re Canada’s director of application development, said Tuesday. Speaking at the 16th annual Insurance-Canada.ca Technology Conference in Toronto, Wong said that…
What customers will soon expect from insurance carriers
February 26, 2018 by Jason ContantInsurance customers are going to start expecting personalized products and services based on data, Andrew Lo, president and CEO of Kanetix Ltd., said during a webinar Thursday. “Our customers are going to expect smart personalization like, ‘Give me the products…
Artificial Intelligence, the latest cybersecurity threat
February 19, 2018 by Jason ContantArtificial intelligence (AI) could be a double-edged sword for Canada’s property and casualty insurance industry, offering several potentially positive outcomes, but at the same time a new cybersecurity threat. AI is consistently touted by the insurance industry for its potential…