Insurtech is set to disrupt an industry that is among the oldest and most complex in the world.
Streamlining the claims process is a major goal of the insurtech movement, and artificial intelligence is making it a reality.
How time flies. It just seems like the other day the insurers taking the lead were those leveraging the “SMAC” constellation of technologies – social, mobile, analytics and cloud. Now, those approaches seem so… well, 2015.
Deep knowledge of artificial intelligence can be hard to come by, which is why large tech companies routinely poach the best minds from top universities to develop their products. The result is that the work of data scientists benefits one corporation instead of democratizing something that could benefit many.
Aviva is eyeing acquisitions in artificial intelligence and big data as it looks to overhaul the insurance industry and transform itself into a fintech firm.