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Realising the Potential of Machine Learning in Insurance

Learn how insurance is being disrupted using AI/ML and how leveraging Databricks on AWS can accelerate innovation in your organisation.

The insurance industry has a reputation for slow and antiquated processes. Customers’ expectations have changed rapidly, fuelled by their day-to-day experiences with digital technology in other aspects of their lives. Enormous opportunities exist to reshape some of the fundamental pillars of insurance. 

In this webinar we will examine use cases corresponding to 3 of these pillars:

1. Improved underwriting outcomes

2. Streamlined claims processing

3. Improved customer experience through automation

We show how AI/ML can contribute to an organisation becoming a market leader in each area. Each pillar will be discussed with reference to a selection of persona roles (actuary, underwriting, customer representative, IT, etc.) operating in an insurance organisation and what this digital transformation means.

In this session we will cover:

  • Using claims forecasting models to improve customer experience
  • How machine learning provides a decision support system for underwriting processes
  • How AI/ML can be used to increase efficiency and reduce fixed costs in claims handling 
  • How Machine Learning augments actuarial methods for risk modelling
  • Automating claims handling via natural language processing
  • A demonstration of risk modelling using Databricks 
  • Solving your collaboration problem: ensuring teams can build production-ready ML models
  • Solving your data problem: Removing silos without sacrificing structure

We hope you enjoy!