Can parametric insurance models be fueled by synthetic data?
Learn how parametric insurance works and why synthetic data could make models more accurate.
Search Results: INSURANCE (506)
Agentic AI rewrites insurance underwriting: See how it works
With AI, insurance underwriting evolves – and insurers can choose to manage the decisions of their AI agents.
Agentic AI for insurance underwriting: The what, why and how
With strong governance, data quality and thoughtful integration, agentic AI can transform insurance underwriting.
Revolutionizing motor insurance: A model for automated claims assessment
SAS is transforming the motor insurance claims process by integrating of tools - blending data management, ML, and UX into 1 complete system.
4 core insurance functions primed to benefit from agentic AI
Agentic AI in insurance has potential to transform insurance. Read four use cases.
Preparing for the EU AI Act in insurance
What insurance companies need to know about the Fundamental Rights Impact Assessment (FRIA) The EU Artificial Intelligence Act (EU AI Act) is ushering in a new era of accountability and transparency for organizations deploying AI systems – particularly in high-impact sectors like insurance. The Fundamental Rights Impact Assessment (FRIA) is
Redefining customer experience: Strategies from Swedbank Insurance, Get’mo and OREA
Every organization faces the challenge of improving customer service and delivering experiences that delight customers. Swedbank Insurance, Get’mo and OREA, three teams participating in the SAS Hackathon, are no exception. Each encountered unique obstacles in delivering better experiences for their customers. With creative solutions tailored to their specific needs, these
4 ways AI is transforming the insurance industry
AI is reshaping insurance – from streamlining underwriting and fraud detection to fighting climate risk.
Insurance fraud: An AI fight requires new AI moves
Learn how insurers can combat AI-driven fraud, secure data and build trust in an increasingly digital world.
The future of insurance talent rests on AI
AI is revolutionizing insurance by tackling talent gaps, boosting efficiency and driving innovation.
10 things insurance leaders need to know about generative AI and LLMs
SAS' Mary Osborne, Ali Dixon Ricke, and Franklin Manchester break down what insurers still need to learn about generative AI.
The insurance Oppenheimer moment – climate risk calamity
The time is now for insurance companies to lead the way in addressing climate risk
AI adoption in APAC insurance: Insights from a regional study
Investment in AI is an obvious target for the insurance sector. Insurers have always been interested in technology that helps detect and prevent fraud and improve underwriting efficiency while speeding processes and reducing – or at least not increasing – costs. But what is the reality in this highly regulated
2025 – The midway station of the COVID decade for insurance
Five years ago, there was no conflict in Ukraine. People went into offices for work. No one was fighting over toilet paper. Everyone’s concept of AI was loosely anchored by Hollywood films like Terminator or War Games. And, insurers enjoyed relatively stable profits, consistent inflation/interest rates, and manageable change volume.
The future of insurance – predict and prevent
Going forward, insurance will be based on data and AI – with a predict-and-prevent approach.
How insurance companies can use synthetic data to fight bias
Stop bias in its tracks – learn about the value of synthetic data for insurance.
2024 insurance Lasso-isms
The world’s a hot mess – literally. We're facing unprecedented weather patterns fueled by climate change, uncertainty stemming from financial volatility and worsening business results. All while carriers struggle to determine which AI solutions (among thousands) to choose. It’s enough to make you want to shut the doors and windows
AI, BMI and life insurance bias: Examining the impact of facial recognition
Life insurance is hard to sell. People don’t like talking about it because it draws attention to a topic no one wants to consider for themselves. Death. Life insurers have earned a reputation for laborious and intrusive processes to secure the coverage that everyone needs. So, over the years, they
AI bias, control and trust: A roadmap for insurance leaders
As insurance continues to evolve, the link between analytics, AI and organizational success has never been more apparent. Marvin Pestcoe serves on the boards of Hamilton Insurance and Catalina Insurance. He is a fellow of the Casualty Actuarial Society. In short, he understands the connection between analytics, AI and insurance
Beyond automation: How AI is reshaping insurance
Have you ever been in a meeting and heard, “We should leave that to the IT department to figure out. That’s a system thing”? I have observed this attitude among insurance professionals my whole career. It was almost as if anything that had to do with IT systems was radioactive!
Reimagining insurance transformation - a smoother path to modernisation
After years of disruption, the insurance industry has its sights set on change – the problem is that transformation often feels out of reach, or firms don’t know where to start. From speaking to our customers, we know that many want to embrace innovative technologies but remain stuck with costly
Exploring the risks and opportunities of generative AI for insurance
What if, 12 months ago, someone bet you that a technology was coming in the next year that would cause great excitement and great fear in all businesses, industries and geographies? Would you have taken that bet? Of course, now we know that the technology is generative AI. Popularized by
Navigating what keeps insurance executives awake at night
Insurers, chief financial officers (CFOs) and actuaries will face overwhelming changes and challenges in the year ahead. These include compliance with new regulatory and solvency standards, pricing insurance premiums in line with inflation and other economic factors, addressing climate risk and ESG concerns, and adapting to new technologies. The impact
Use-based insurance helps fleet operators obtain better rates
SAS Hackathon team, Data Hack Freaks, created an artificial intelligence (AI) and machine learning (ML) based dynamic pricing approach that allows insurance providers to adjust pricing based on the changing nature of the risk behavior of their customers. This solution has three major components: The loss ratio score, telematics score
How to become a data-driven insurance company
In the competitive and highly regulated insurance industry, it’s easy to see why firms are hungry to unlock the value of their data. From tackling claims inflation and fraud to developing innovative new products and pricing strategies, they know that being able to make sense of this data quickly is
The Deliveroo Effect on Insurance
Customer acquisition and retention primarily fall on sales and marketing teams. But every department within an insurance company has a role to play in these activities. Claims handling is a great example. Any insurer's performance at this emotionally charged time is their litmus test. It can determine whether customers renew
Kalkulierbare Naturkatastrophen: „Mit analytisch gestützter Risikoberechnung können wir den Insurance Gap schließen.“
Fast 200 Todesopfer (davon 134 allein im Ahrtal), 33 Milliarden Euro an Sachschäden – das Hochwasser im Ahrtal 2021 war die teuerste Naturkatastrophe der europäischen Geschichte. Und weniger als ein Viertel der betroffenen Assets war versichert. Wer die Risiken von Überschwemmungen und anderen Naturereignissen früher erkennen und präziser einschätzen will,
Addressing insurance challenges amid digital transformation
Insurers are bracing for serious change as customer journeys continue to transform. IDC FutureScape predicts that by 2024, 50 percent of all policies of non-life and life insurers will be sold through a fully automated personalized insurance engine and client-guided customer journeys, creating stronger brand loyalty. A progressively more complex
The transformation of customer relationships in the insurance industry
The relationship between insurance companies and their clients has always been tricky due to several factors. But just like any other sector today, insurance organizations are transforming with digital technologies – and these solutions are customer-centric. What’s in store for customer relationships in the insurance industry? Keep on reading to
The pandemic drives fraud in the insurance sector
The pandemic has definitely left its mark on the scale of the fraud we’re witnessing in the insurance industry. The key reason behind this is the economic recession. Whenever we observed a decline in a country’s GDP, an increase in fraud rates followed. When GDP fell by an average of