New Novarica report explains four categories of Artificial Intelligence, provides details on their secondary technology applications, and lists out 40 insurance industry use cases
Boston, MA (Aug. 4, 2020) – The application of AI ranges from machine-learning-driven algorithms to unstructured text, image, and sound analysis. In a new executive brief, Artificial Intelligence Use Cases in Insurance, research and advisory firm Novarica helps insurers understand the cases that AI applications have in across the insurance value chain from product design to billing and claims.
“The space of artificial intelligence is rapidly evolving,” said Jeff Goldberg, Executive Vice President of Research and Consulting and co-author of Novarica’s new report. “Some of the technology applications that are merely interesting abstract ideas right now will become usable technologies that make sense in a production business environment, and some have direct real-world application right now. Rather than start from the technology, insurers’ should start from the use case and evaluate potential applications or platforms based on real business need.”
Click here for the table of contents or to access the report.
Report Summary
This report outlines 40 insurance industry use cases for artificial intelligence, and helps insurers differentiate between AI-related platforms and applications.
Artificial intelligence, or AI, is a broad term that covers technology allowing computers to perform tasks that have typically required human intelligence to accomplish. This technology can be divided into four major categories: machine learning, image recognition, audio recognition, and text recognition. Each of these categories has a set of secondary technology applications.
This brief explains the four AI categories, provides details on their secondary technology applications, and lists out 40 insurance industry use cases. Insurers with AI innovation projects can start with this report to understand the technology and identify potential use cases to deliver.
Click here for the table of contents or to access the report.
About Novarica
Novarica helps more than 100 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and more than 300 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. For more information, visit www.novarica.com.
Source: Novarica
Tags: Artificial Intelligence (AI), Novarica, use cases
