The dazzling growth of AI technologies in life poses problems as well as opportunities to businesses of all sizes in all spheres. On the dark side, online frauds, based to some extent on the use of AI, can potentially hide criminal actions and circumvent the risk management systems in place,
The advent of artificial intelligence has had a significant impact on the insurance industry. Since its emergence, the industry has taken the technology, adapted it to empower insurance practices, and has since embarked on a technology-driven shift. As new and exciting technologies continue to
With the surge in climate-related disasters, property insurance markets in areas with high risk are crumbling. Conventional threat assessments that rely on historical records or zip-code specifics are leaving countless individuals without affordable options. Currently, AI-powered risk models are
The insurance industry is at the edge of the biggest technological change yet. Since the 2023 survey by EIOPA , digital insurance, artificial intelligence, big data, and digital infrastructure have become top priorities for investment. In 2025, these are still coverage providers’ most important
Following the COVID-19 pandemic, the manifestation of risk on all levels became jarringly evident. This prompted the insurance industry to take a long look in the mirror and face the fact that current insurance practices only provide broad coverage, excluding the depths of modern-day factors. So,
In today’s competitive climate, insurers must remain competitive by providing excellent customer service and reducing the friction and pain points customers experience. Blockchain has long been heralded as the disruptive technology behind the fintech industry, and use cases for Insurtech have
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