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Machine Learning Techniques for Detecting Insurance Claims Fraud
January 13, 2023Insurance claims fraud is a serious issue that can lead to higher premiums for honest policyholders and financial losses for insurance companies. To combat this problem, insurance companies have turned to machine learning techniques to detect fraudulent claims. In this blog, we will compare several different machine learning techniques and evaluate their effectiveness in detecting […]
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The Impact of Artificial Intelligence on the Future of Insurance
December 29, 2022AI is being used more and more by insurance companies to enhance underwriting and risk assessment, automate claims processing, and customize insurance products and services.
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Insurtech trends: 2021 and beyond
October 26, 2021Even as the COVID-19 pandemic releases its vice-like grip on the world, insurance has become and continues to be a matter a public discussion. In this new era of actuarial science, it is important to see why IT can be a key in elevating your P&C firm to the next level.
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Artificial Intelligence, the true savior of healthcare insurance
October 8, 2020Digital disruption has invariably affected the health insurance industry. Various players in the industry are now leveraging the latest digital technologies such as Artificial intelligence (AI), Big Data Analytics, and the Internet of Things to improve their offerings overall. As predicted by Accenture, the majority of insurance executives believe that artificial intelligence (AI) will significantly transform the industry, and McKinsey estimates that the potential total annual value of the AI and Analytics industry will be $1.1 trillion if it is applied to its full potential in the Insurance domain.
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