Brokers wanting to take advantage of artificial intelligence and machine learning need large amounts of data and to hire the correct experts. If a company wants to effectively build and deploy artificial intelligent and machine learning systems, it needs a…
Brokerages who use artificial intelligence could find opportunities to upsell based on changes in a client’s lifestyle, according to a software vendor executive. The more data you feed a machine learning model and the more you train it, the better…
Insurers who replace underwriters with computers are rejecting a lot of small business applications for reasons that are unclear to the brokers, a commercial broker suggests. “I think that insurers will start to realize that the black boxes are actually…
Thinking of investing in artificial intelligence so you can automate tasks that are wasting workers’ time? Many brokerages have processes that could be improved through machine learning, suggested Christopher Wynder, director of product marketing for capture and original equipment manufacturing…
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…
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…
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…
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,…
Artificial intelligence could help a brokerage figure out how likely a prospective client is to actually buy insurance. At least that’s what officials with Surex Direct are hoping. Magreth, Alta.-based Surex Direct places home, auto and commercial lines and says…
Google and KPMG LLP are targeting insurers with clients who want to communicate in a variety of ways – whether by phone, email, text message or even snail mail. KPMG recently announced Intelligent Interactions, available now, which KPMG is offering…
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…