How AI is transforming the insurance industry: from passive to active pricing policies.
Due to IoT, Chatbots and Machine Learning, the insurance industry is about to go through a huge transformation. IoT will generate huge amounts of data that which allows insurance companies to actively respond to behaviour of their clients.
Possible AI-powered Applications for the insurance industry
By 2030, AI will inform every major decision an insurance company makes.
The insurance sector has already invested $124 million in AI, compared to an average of $70 million invested by other industries.