PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

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ADVANCED ANALYTICS – A BOON FOR INSURANCE PROVIDERS

Data generated, collected and processed in huge volumes led to this massive phenomenon called Big Data. This big data eventually gave rise to the revolution of analytics.

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INFOGRAPHIC: UNLEASH THE POWER OF PREDICTIVE ANALYTICS IN INSURANCE

Data and analytics play a critical role in insurance sales and distribution, underwriting, fraud prevention, and claims management. Predictive analytics uses data & statistical algorithms to forecast behaviour and continues to disrupt the insurance sector.

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AUTOMATION IN INSURANCE – A MULTI-BILLION OPPORTUNITY

The concept of insurance has been there for ages, yet the business — collecting premiums, assessing risk and paying claims hasn’t changed much. Recently, the industry has embarked on a radical transformation, impelled by a series of digital innovations.

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INSURANCE INDUSTRY SHOULD EMBRACE AI-POWERED TOOLS

The insurance sector has no shortage of data – thousands of customer queries, claims on an everyday basis. The industry that heavily depends on analysis of terabytes of data requires innovative technology to understand what is contained in this information. Artificial Intelligence (AI) is making that possible in multiple ways.

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5 INNOVATIONS CREATING A STORM IN THE INSURANCE INDUSTRY

Today’s consumers are becoming comfortable with new technologies. They expect this digital experience in every interaction, which means the need to innovate, is critically important for insurance companies.

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Is IOT Transforming the Insurance Industry?

The insurance industry is experiencing a profound change driven by a fast-growing and innovative force – The Internet of Things (IoT).