Get to know the top AI trends that will be discussed at Insurance AI and Analytics USA 2019

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Insurance AI

The business value of artificial intelligence will reach over $3.9 trillion within the next five years, according to the business analyst firm Gartner.

Artificial Intelligence (AI) has become mainstream now with companies looking for ways to include AI in their business operations. Most of us have already witnessed AI when it reads out product recommendations on Amazon, gives automated fraud alerts from credit card companies or when we ask our Google Assistant to play a certain song. The personalized replies suggestion you get on your Gmail is also an example of AI.

Companies are still in the early stage of AI adoption and learning to craft the perfect AI strategy for their business. For full-scale AI adoption, we will need to understand the technical challenges that lie in the industry and the upcoming trends.

Insurance AI and Analytics USA 2019 will talk about the business value of AI across multiple sectors like Insurance, Automobile, Finance, Automation, etc.

In our last post, we talked about the event and why you should not miss attending it. You can check it here.

Here, we will be talking about the major topics that will be discussed at the event:

AI and Analytics trends 2019

  • AI in Insurance

AI will change the face of the insurance sector in the coming years. Insurance will become more than mere detection and prevention of an accident to the prediction and prevention of it. The pace of adoption will accelerate when brokers, financial intermediaries, consumers, insurers and suppliers will demand more of these advanced technologies to enhance the existing decision making and productivity, as well as lowering cost and optimizing the customer experience.

With the deep integration of AI in the Insurance sector, carriers will need to learn new strategies to make use of this emerging opportunity. This includes understanding the factors that will play an important role in this change and how AI will reshape distribution, claims, underwriting and pricing. They will need to upskill their existing skills to embrace  new technology.

Dedicated Event Track: LIVE POLLING: The Path to Greatness: Where AI is Impacting Insurance Right Now

Insurance AI and Analytics USA 2019 will have live polling on where AI is impacting Insurance to help:

– Benchmark the priorities of AI integration across the insurance value chain.

– Identify and assess the impact of AI on actuarial science.

  • Deployment of AI across the enterprise

We will see more adoption of AI across enterprises. Companies will fundamentally rethink the way machines and humans interact within the working environments. AI can drive new business models and offerings, making it an integral component of a corporate strategy.

Dedicated Event Track: Deliver Real Business Impact: Automate Internal Processes Using AI

Eugene Wen, Vice-President of Group Advanced Analytics at Manulife will be discussing building an effective and agile data ecosystem and fostering coalition across the enterprise for ensuring the success of AI.

  • Automating internal processes through AI

Automation using AI might be a major game changer across industries. It can be made possible with the combination of new types of software like machine vision, natural language processing, speech recognition, and machine learning.

The business benefits of automating internal tasks using AI-powered automation is much broader than the cost savings.

Dedicated Event Track: Deliver Real Business Impact: Automate Internal Processes Using AI

Ted Stucky, Managing Director, QBE Ventures will discuss how AI can be used throughout the organization with some practical use-cases to drive the biggest benefits.

  • Using analytics to drive customer experience

Analytics can help enterprises in understanding different data patterns and drawing meaningful insights from them. The ultimate aim of every business operation or insight is to enhance the end user experience. The convergence of AI and analytics, when applied to industrial business processes, can help understand customer requirement and act proactively.

Dedicated Event Track: Create an Outstanding Customer Experience

The track will have live polling to leverage analytics to reshape the customer experience followed by case studies.

  • Leveraging data for strategic advantage

The ability to collect data and draw meaningful insight from them can give organizations a competitive advantage. These tools enable the discovery of deeper business challenges and opportunities. Using data can help companies save thousands of pounds, develop marketing strategies, improve procurement strategies, support business growth and most importantly have an edge over their competitors.

Dedicated Event Track: Deploy Data Analytics to Gain a Strategic Advantage

Zahid Ansari, BI and Analytics Architect, Xby2 will talk about ways to achieve a competitive advantage by leveraging analytics through practical case studies track.

Insurance AI and Analytics USA 2019 will kick start tomorrow at Renaissance Chicago Downtown at Chicago, USA.

Stay tuned to get all the latest updates from the event.

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