Insurance and the New, Post-COVID-19 Normal
May 27, 2020 by Guy Zinman
Many insurance organizations worldwide have turned to artificial intelligence (AI) technology in recent months to help them address the disruptive changes in their business due to COVID-19. Their historical data and business intuition is no longer reliable nor relevant, as this New Normal has affected customer behavior and emergency responses that have dramatically shifted insurance workloads and approaches.
In today’s climate, data accrued in the last couple months are of more value than data accumulated across the last five years. This means that all AI-based models need to be rebuilt to address the new trends we currently see. What’s more, scaling analytical processes and deploying automatically-updating AI models is critical now, more than ever.
In this article we will first highlight key struggles facing the industry by line of business, then we will provide examples for how AI can aid to shed more light as the situation develops.
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