Harnessing the power of AI in insurance

Zeev Avidan // April 15, 2021

(Image credit: Shutterstock.)

There are few trends that stand to revolutionize the insurance industry so much as widespread adoption of artificial intelligence (AI). Rising InsurTech superstars demonstrate how AI technology will redefine the insurance landscape. Lemonade, for example, uses AI for everything from underwriting through claims processing and customer care. Root Insurance is one of the best-known auto insurance providers to collect and algorithmically analyze driver behavioral data to price premiums.  The benefits of AI to insurers include competitive advantages in pricing and underwriting, improved claims management, data-driven development of new

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