Property and Casualty insurance Industry-Reinsurance

AI, Machine Learning (ML) and Econometrics are used in the property and casualty insurance industry in many ways:

  • Insurance Advice (front end):  computer-generated insurance advice. Development of personalised solutions via machine learning models. Use of chatbots on messaging apps to resolve claims queries. Virtual assistant.
  • Claims processing and claim prediction: Use of machine learning to improve operational efficiency, from claims registration to claims settlement to claim prediction.
  • Fraud detection and prevention: Advanced analytics (Machine learning, AI and Econometrics) can use structured, unstructured, and semi-structured data (claims data etc...) for prediction and identify potential fraud.
  • Risk Management/Underwriting: Insurers uses advanced analytics, AI and Machine learning to predict premiums and losses for their policies.
  • Customer service and customer retention
  • Marketing
  • Lifetime value of a Policy Holder

DeepBaobab.ai helps Insurances use all relevant data to develop machine learning and econometrics models that will generate predictive insights.

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