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Keyword
machine learning

News InsuranceLegislation / RegulationTechnology

Should insurers self-regulate this field of study?

September 18, 2019 by Jason Contant

Insurers should consider self-regulating machine learning practices before regulations are imposed on them, a speaker suggested last week at the Connected Insurance Canada conference in Toronto. Moderator Stephen Applebaum, principal at Insurance Solutions Group, asked panelists if regulators understand machine

News InsuranceTechnology

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 InsuranceTechnology

The limits of artificial intelligence in insurance

April 11, 2019 by Greg Meckbach

Artificial intelligence has not reached the point where it is replacing humans in the insurance industry because many processes still require human intervention, speakers said at a recent insurance conference. Artificial intelligence is used in some cases for client engagement

News RiskTechnology

The downside risk of machine learning

April 8, 2019 by Greg Meckbach

Machine learning and artificial intelligence can create liability risk if it makes decisions that would be inappropriate or even illegal if a real person made them, a risk expert warns. “If you train an algorithm with data that has underlying

News Mergers and AqcuisitionsRiskTechnology

Managing your client’s M&A risk with A.I.

October 1, 2018 by Greg Meckbach

Mergers and acquisitions come with risks for buyers, and one law firm uses machine learning to help clients manage at least some of those risks. One risk to a buyer is when the target company has liabilities – such as

News InsuranceTechnology

A better way to transfer bad risks off the books

September 27, 2018 by Greg Meckbach

Law makers and regulators are stopping insurers from using technology that could actually help customers, speakers from two of Canada’s top three property and casualty carriers warn. Insurers have plenty of data that they could potentially use to rate auto,

News InsuranceTechnology

Get ready for the ‘internet of cows’: Farmers use technology to shake up agriculture

June 19, 2018 Ross Marowits - THE CANADIAN PRESS

MONTREAL – Get ready for the “internet of cows.” Generations of farmers have relied on knowledge and family expertise to grow food, but the sector is set for a surge of disruption at the hands of made-in-Canada artificial intelligence-powered systems.

News InsuranceTechnology

How you can make artificial intelligence more than just a ‘sexy sound bite’

May 22, 2018 by Greg Meckbach

Artificial intelligence may make for a wonderful sound bite, but insurance providers need to use this emerging technology to cut costs and serve customers better, two financial services executives warn. The financial services industry is “still at a stage where

News InsuranceProfessional DevelopmentTechnology

Insurers investing in AI can boost revenues by double digits: Accenture study

May 10, 2018 by Jason Contant

Insurers that invest in artificial intelligence (AI) and human-machine collaboration at the same rate as “top-performing” businesses could, over the next five years, boost their revenues 17% and their employment 7% on average, according to new research by professional services

News InsuranceLegalMarkets / Coverages

How machine learning can help you predict court decisions

April 26, 2018 by Jason Contant

Machine learning is now able to analyze court decisions and predict how judges may respond in certain situations, based on an analysis of existing caselaw. Artificial intelligence technology is currently available to analyze tax and employment caselaw, but it’s easy

News Markets / CoveragesTechnology

Could machine learning help firms select better board directors?

April 23, 2018 by Jason Contant

In the not-too-distant future, machine learning techniques will fundamentally change the way corporate boards of directors are chosen, with shareholders being the beneficiaries, a recent study has predicted. The study, Selecting Directors Using Machine Learning, involved the use of a

News InsuranceTechnology

How AI increased this brokerage’s sales leads by 13%

March 1, 2018 David Gambrill, Editor-in-Chief

Using artificial intelligence (AI) to understand the likelihood of individual consumers making an auto insurance purchase, insurance broker Kanetix Ltd. was able to achieve a 13% lift on its call volume and lead generation. “AI is something that the Insurance