Insurers want to leverage AI in their operations, but they must have the right foundation to support it – and grasp the risks that such implementation presents
An increased reliance on AI is not without risk. Machine-learning models are notoriously difficult to explain, as most are built in a black box. “It is a huge barrier to acceptance of new technologies in the insurance industry. This challenge has thrust ‘explainable AI’ into the spotlight,” says Pamela Negosanti, Head of Sales and Sector Strategy at tech firm expert.ai.
In Part One of this feature we looked at the transformative power of AI solutions: how machine learning and natural language understanding can turbocharge marketing, underwriting and claims management. In Part Two, we examine the main challenges associated with actually integrating AI into insurance operations.
