Watch this webinar replay, now available on-demand, to explore a range of aspects of Embedded Insurance business model, drawing on the recently released “Embedded Insurance Peer Group Report – June 2022”.
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Pinnacle Actuarial Resources
Join Director and Consulting Actuary Linda Brobeck and Consulting Actuary Tom Kolde for an overview of cluster analysis, an unsupervised machine learning technique used to manage high-dimensional, correlated data. Topics for discussion include data and input requirements, interpreting output and practical insurance applications.
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Apart from claims already losing insurers’ money, claims fraud is estimated to cost the insurance industry over US$80 billion let alone in the United States. According to a McKinsey report, by 2025, claims are estimated to be automated by 50% using AI and Machine Learning techniques. Additionally, a report from DASH estimates AI can save the industry up to US$40 billion in fraud reduction - annually, to this date.
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Beginning in March 2020, the COVID-19 pandemic, and its subsequent shutdowns, had a profound effect on the insurance industry. This was compounded by the more recent heightened inflation that began in the second quarter of 2021, causing concern for many.
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