AI and Transformation in Insurance: Key Benefits and Challenges

TREVOR LLOYD-JONES | August 13, 2019

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In terms of where automation can add value – and reduce risk – it’s helpful to consider that around 80% of the time of a typical data scientist is spent in data assembly or what we could loosely call data preparation, data collecting, cleaning and preparing it for modelling, including building training sets of data and working with other stakeholders. Another 9% or so is spent on mining data for patterns. And only a relatively small amount of time, around 4%, is spent on refining algorithms, or what most people would think about when it comes to the actual value creation.

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Hannover Re

Hannover Re, with gross premium of around EUR 17.8 billion, is the fourth-largest reinsurer in the world.

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Spotlight

Hannover Re

Hannover Re, with gross premium of around EUR 17.8 billion, is the fourth-largest reinsurer in the world.

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