How Artificial Neural Networks unlock insights from unstructured data to benefit insurance

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Today, with fierce competition in the #insurance industry, it is imperative for insurance companies to up their game in customer experience. Faster #policy issuance, faster #customer #grievances resolution and faster #claims closures help insurance companies attract more customers to them. At the same time, the companies must mitigate their risks of customer churn and early or fraudulent claims. With advancement in #technology insurance companies today have huge amounts of #data in a variety of formats such as #videos, #images, #audios, #text. With the advances in #AI and Artificial Neural Networks, this data can be fully leveraged to support the companies in making quick informed decisions.

Points of discussion are as below:

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1. Dealing with unstructured data is one of the difficulties data scientists encounter. How do you think Artificial Neural Networks can solve this problem for insurers. Following question: And how Artificial Neural Networks outperform the traditional models? Any example from the insurance sector?

2. How do you think, Artificial Neural Networks can help Insurance companies to improve persistency and predictability.

3. What are the current developments happening in the world of Artificial Neural Networks that can help the insurance industry?

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