Technology has revolutionized the way insurance claims are processed, so the protection of sensitive data is paramount. In that regard, Claims Management, an intricate process that handles vast amounts of personal and financial information, has become a prime target for cyber threats. In this blog post, we will go deep into the critical importanceRead more
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Artificial Intelligence: An answer for Insurance Claim Management? Artificial Intelligence (AI) is much more than a buzz word in the insurance industry. AI has promoted changes across the industry in various practices: Chatbots. Claim Management. Evidence Gathering for Auto and Health Insurance via wearables. Telematic Devices. Massive Data Production and Analysis, and more. Changes brought by AI are not only being adopted in the industry, but they are also changing insurance permanently. But before digging deeper into this subject, let usRead more
Recently, Sonoma County in California has decided to enter a contract with a South Korean technology firm, Alchera. This partnership will give the county an extra set of eyes to help alert for danger of wildfires embodied by drones. When they spot a fire or signs of one, the drones will alert first responders. The two-year contract was funded through 3 MillonRead more
The insurance industry has been undergoing changes in the 21st century. Along with a majority of other industries in products and services, it had to adapt to a new landscape: a digital world, with a digital cloud over it, oceans of data, and an increased reliance on what can be done remotely. The digital landscape is where insurers struggle while others are able to thrive. That is the reasonRead more
After the COVID-19 pandemic and the subsequent move from offices to virtual work environments, employers have started paying serious attention to cyber security. According to the Report “Cost of a Data Breach” from IBM, during 2020 the average cost of a data breach was 3.86 million dollars. More specifically, in the health care industry theRead more
Artificial Intelligence (AI) in the insurance industry is a form of technology that allows computer systems to accomplish tasks without human intervention. These task involve Gathering information; Analyzing data by running models for example of projected sales. Finally, Automatically making decisions, which is essentially automating a task. AI is turning the insurance industry around. The uses of AIRead more
