AI in Insurance: Business Process Automation Brings Digital Insurer Performance to a New Level

ALTEXSOFT | July 24, 2018

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The insurance industry one of the least digitalized is not surprisingly one of the most ineffective segments of the financial services industry. Internal business processes are often duplicated, bureaucratized, and time-consuming. As the ubiquity of machine learning and artificial intelligence systems increases, they have the potential to automate operations in insurance companies thereby cutting costs and increasing productivity. However, organizations have plenty of reasons to resist the AI expansion; the fear of unemployment and the lack of trust in cognitive systems are among them.

Spotlight

MIB Group, Inc

MIB Group, Inc. ("MIB") is a membership corporation owned by 410 member insurance companies in the U.S. and Canada. Organized in 1902, MIB today is comprised of two subsidiaries. MIB, Inc. and MIB Solutions, Inc.

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