Keyword
artificial intelligence
The hard part about making artificial intelligence work
December 11, 2018 by Greg MeckbachUsing artificial intelligence, brokers can gain valuable insights from data, but making decisions based on those insights might be easier said than done. “There is an issue that all companies struggle with. It’s one thing to gain insights out of…
The ‘biggest hurdle’ to making artificial intelligence useful
November 28, 2018 by Greg MeckbachFiguring out what products your customers might buy next or what they are complaining about are two ways you could be using artificial intelligence now, the founder of a big data vendor suggests. “In the future you are going to…
Why your clients are increasingly exposed to wildfire losses
September 28, 2018 by Greg MeckbachClimate change has turned the risk of wildfire into a year-round peril in Western Canada, a geography expert says. In the past, wildfire season started in April or May and ended some time in October, said Dominic Ford, senior geospatial…
Analytics expert warns against ‘data hoarding’
September 26, 2018 by Greg MeckbachElectronic data can be a powerful tool and is not expensive to store, but it’s only useful if you have a strategy behind it, speakers said during this week’s Insurance Analytics Canada Summit. “If you don’t have a data strategy,…
Must-have for insurers to underwrite overland flood
September 26, 2018 by Greg MeckbachArtificial intelligence and data analytics is one reason some Canadian insurers are underwriting residential flood coverage, speakers said Tuesday during an industry conference. “Here is an opportunity that we took to really look at the massive data sets we worked…
How cyber risk managers can detect something that does not look right
September 25, 2018 by Greg MeckbachMachine learning – which some brokers use to make chatbots – can also help companies improve cyber risk by flagging abnormal activity. Machine learning is a type of artificial intelligence, which mimics human cognition and activities, such as identifying patterns.…
How to avoid the “broken arrow” approach to new technology
August 29, 2018 by David GambrillIf you’re an insurance organization looking to adopt innovative new technology such as artificial intelligence, you’ll want to avoid the “broken arrow” approach to implementation. In some instances, organizations may put the cart before the horse, with IT departments developing…
The trade-off to using artificial intelligence to speed up claims
August 29, 2018 by Greg MeckbachCanadian insurers wanting to handle claims like Lemonade are going to have to accept some trade-offs, a Claims Summit speaker said Tuesday. New York City-based Lemonade Insurance Company uses artificial intelligence and says it can handle some claims in three…
Artificial intelligence a ‘work in progress’ in marine insurance
August 27, 2018 by Greg MeckbachSome insurers are considering how artificial intelligence could help underwrite marine risks. Although big data has been around for years, “what has changed with AI is just using bigger more disparate data sets which go across different domains – for…
Humans required to train AI to assess images for damage losses
August 22, 2018 by Greg MeckbachClaims adjusters could soon have part of their work replaced by software that looks at photos and decides whether property is damaged, but there is still a need for humans in the process, one researcher predicts. When properties are damaged…
How drone technology is transforming roofing claims
July 19, 2018 by Jason ContantWith the increasing number of catastrophes across the country, there is general consensus in the industry that resources are stretched thin. “The industry has a finite number of roofing companies, adjusters and estimators and to gear up to handle many…
Why fully automated cars are a lot further away than you think
July 8, 2018 by Jason ContantDon’t hold your breath waiting for the first fully autonomous car to hit the streets anytime soon. Car manufacturers have projected for years that we might have fully automated cars on the roads by 2018. But for all the hype that…