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It has been said AI is not a silver bullet to all the insurance industry’s shortcomings. So, what’s all the chatter about? Where is it best suited, and what (if any) are its limits?
The insurance industry has paid lip service to AI and machine learning for some time. However, adoption has been underwhelming. As firms come under intense pressure to meet changing customer demands, could this instigate more rapid AI adoption?
Beesafe, which is part of the Vienna Insurance Group, with leverage Tractable’s AI technology to assess car damage and accelerate claim processes.
InsurTech unicorn Tractable has established a German subsidiary to expand its businesses in the country.
Customers have raised the bar on the level of service they expect from their insurance provider. Faced with the industry’s historic reputation of working against the customer, insurers and InsurTechs must raise their customer experience game if they are to come out on top.
InsurTech Tractable has signed an agreement with UK-based insurer Aviva, to improve the accuracy and efficiency of UK motor claims by using artificial intelligence (AI).
InsurTech Tractable has enhanced its collaboration with Mitchell, an Enlyte company and leading technology and information provider for the property and casualty (P&C) insurance and collision repair industries.
Tractable, a provider of artificial intelligence (AI) to accelerate accident and disaster recovery, is to integrate its solutions into Duck Creek Technologies platform.
The Latin American InsurTech ecosystem is in its early stages compared to other regions, which means the market opportunities for insurers and InsurTechs are vast. A middle-class population that is demanding more digital services, coupled with global advances in technology, is creating a perfect storm in enabling growth in the region.