Underwriting is one area where AI can have a major impact. The underwriting process is currently based on manual processes and antiquated data sources. Delays and errors are often the result. Through the use of AI, accurate and up-to-date data can be provided to speed up the underwriting process. As a result, insurers will be able to offer more competitive pricing. Using AI to detect fraud is also possible. Artificial intelligence can identify fraud patterns from large data sets. This will help insurers to avoid losses whilst increasing their bottom lines. #insurance #AI #underwriting #insurtech
