The Insurance AI Imperative

whitePaper | November 29, 2019

Insurance carriers have invested a great deal in digital capabilities in recent years. While these initiatives reflect a genuine need to be more efficient and profitable, it can be difficult for management to maintain a clear perspective on strategy in the face of what amounts to generational change. Accordingly, whether you’re embarking on a digital transformation or just making targeted improvements, there are a few important things to keep in mind.

whitePaper | June 16, 2022

Data has always been an important asset in the insurance industry, which is largely built on algorithms and financial models. Today, that is truer than ever before. Data can be analyzed to provide insurers with deeper business insights and the ability to target the right customers through the right channels with the right offerings in the right sequence. It also has opened the door to a growing group of digital natives and insurtechs that bring innovative ideas and solutions to help accelerate and improve the customer journey. Today, the advent of artificial intelligence (AI) is increasing the importance of data across the industry. AI is widely recognized for its potential to bring greater efficiency and innovation to the entire insurance value chain, from customer acquisition to claims processing, and for all stakeholders, including customers, agents and employees. However, effective AI depends on current, accurate and relevant data. AI is key to competitiveness, and data is key to AI.

whitePaper | July 12, 2022

The insurance industry is feeling the impact of high inflation. Supply shortages and higher material prices have been raising insurer repair and replacement costs and increasing the severity of losses on auto and homeowner insurance claims. Interchange fee increases, rising labor costs, and fuel price hikes are only adding to carriers’ financial pressures.

whitePaper | January 4, 2020

A self-insured lender assumes all risk and absorbs any losses that occur. The greatest disadvantage of self-insurance is that risk is not transferred. To minimize uninsured losses, some self-insured lenders add follow up procedures such as: Requiring evidence of physical damage insurance at the time of loan closing.

whitePaper | April 26, 2022

The climate crisis poses a serious threat to the United States economy and human welfare, with a narrowing timeframe to invest in opportunities to avoid the most catastrophic impacts. Extreme weather events can be exacerbated by climate change, disrupting supply chains, and flooding made worse by sea level rise can destroy critical infrastructure. As a smaller subset of these impacts, climate change threatens the Nation’s fiscal health.

whitePaper | June 14, 2022

If you invest in a PruFund Fund in the Prudential ISA through the Life Insurance Policy, the assets will be held in trust on your behalf by Link Financial Investments (Nominees) Limited in its capacity as the ISA Plan Manager’s nominee. You don’t hold any direct rights under the Life Insurance Policy.