Here, There, and Everywhere: Artificial Intelligence in P&C Insurance

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By Mark Breading, Partner, Strategy Meets Action

Boston, MA (Nov. 14, 2017) – Artificial intelligence (AI) is a term for a very broad array of technologies that mimic human cognition and activities; they can also discover patterns and relationships that go beyond anything humans are capable of. Depending on your view, AI will either be a great boon to human society and business, or an existential threat to humanity. Or you may believe that the whole area is overhyped and won’t have these dramatic implications. Whatever you believe, it is important to understand how AI applies to the property/casualty industry and where the greatest potential lies for harnessing the technology.

A new research brief by SMA, based on a survey of insurance executives, provides some insights into these areas. AI in P&C Insurance: Potential and Progress covers personal and commercial lines, revealing significant differences between the sectors. AI has potential in P&C to address many business issues across the enterprise for every sector of P&C. Today it appears in use cases here and there. Over time, AI will contribute to solutions everywhere in P&C.

Click here to read the full blog.

About SMA

Exclusively serving the insurance industry, Strategy Meets Action (SMA) is an advisory services firm offering retainers, research, consulting, events, and innovation offerings to both insurance companies and solution providers. Learn more about SMA at www.strategymeetsaction.com.

SOURCE: Strategy Meets Action (SMA)

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