Big Data, algorithms and AI, the tools of tomorrow’s insurance?

| December 16, 2019

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AI and Big Data are transforming the insurance sector. What opportunities are offered by the use of these technologies and what ethical issues do they raise? Insurers have always used data and mathematical models to analyse and manage risk. As highlighted by Florence Picard, President of the École Polytechnique d’Assurances (EPA) and manager of the French Institute of Actuaries’ Big Data working group, “data constitute the raw material of actuaries”. Thanks to Big Data, AI and algorithms, insurance companies now have access to a much larger quantity of data, from various sources, and more importantly the means to process these data.

Spotlight

Cover Genius

Cover Genius is a global insurance technology company with offices in the US, Canada, LatAm, the UK, The Netherlands, Germany, Japan, Singapore, India, Korea, Indonesia, Malaysia, Thailand, New Zealand, and Australia. Cover Genius’ vision is to protect all the customers of the world’s largest online companies and it counts some of the world’s biggest online brands including Booking Holdings (NASDAQ:BKNG), eBay,Wayfair, Intuit, Despegar, Descartes ShipRush, Automatrix, AXS, Ola, and the leading e-commerce platform in Southeast Asia & Taiwan, Shopee, among its partners. Cover Genius’ award-winning technologies include XCover, its global insurance distribution platform and XClaim, an API for instant payment of approved claims that delivers an NPS of +65, a result that has been independently recognized as the highest for any insurance company globally. XClaim executes thousands of bank transfers per month into 90+ currencies, and it also allows partners or customers to choose other forms o

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Article | April 12, 2021

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Spotlight

Cover Genius

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