AI technology incites the insurance industry's original appearance, underwriting, billing, and claims

In the past, artificial intelligence (AI), which is connected to the application, is mostly robots, playing chess, etc. However, do you know that the insurance industry's application to AI and investment power far exceeds other industries in the world? The reason is that the characteristics of the insurance industry are full of many force majeure factors, and the price of each insurer needs to be determined through a risk measurement mechanism.

AI technology incites the original appearance of the insurance industry, nuclear insurance, billing, claims

AI technology is through the collection of big data, through the cloud to analyze data, and then through the machine to continuously learn to achieve information cognition, to provide people with a basis for decision-making; Fu Jin Property and Casualty Senior Vice President Lin Jinsui said Due to the characteristics of the insurance industry, it is quite necessary to assist AI. Therefore, the insurance industry used AI technology for risk investigation and improved insurance process operations. It also achieved the homogenization of insurance products through AI technology to ensure the insurance industry. effective.

In recent years, the refinement of AI technology, from data collection, analysis, classification, identification, all the way to application, will completely change the operational appearance of the insurance industry; in the past, the amount of data that insurance companies had to deal with was tens of thousands. It is only necessary to hire an actuary to assess the risk and make a price; but the current data starts at 100 million, and it is impossible to undertake so many policies without using technology.

Lin Jinsui takes the double eleven as an example. An insurance company in mainland China can sell 100 million insurance policies on this day, but how do you evaluate and issue these policies? Through the open data, IoT technology, and the past data of the policyholders, the AI ​​technology can judge whether the policy is issued or not, so as to achieve the anti-fraud effect.

In addition, AI is more helpful for insurance marketing. It can achieve insurance customization and precise marketing through network platforms, applications, and mobile vehicles. The system can directly find compliance with consumption. The personal traits of the policy, provide customized services, and whether it is underwriting, billing, claims can be completed through AI technology.

Fubon Property & Casualty began to use AI technology to launch a series of electronic insurance policies in 2016. It sold 400,000 policies in the first year of promotion, and grew to 800,000 in 2017, and is expected to push more than one in 2018. One hundred and six hundred thousand electronic insurance policies. It is concluded that AI technology can bring about exponential growth for insurers.

Looking back, the growth rate of such a large demand for electronic insurance policies, if not through AI to achieve policy risk assessment, such a large piece of cake, the industry will not be able to get a share.

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