sounds a little bit ahead of time — but it is already reality.
Roboters with artificial intelligence are already analyzing, learning and clearing insurance requests. Even if you speak with a broker or the company itself, the work is done by some algorithms and ai.
Insurance companies are one of the most data driven companies worldwide. Ever thought about why your car policy costs as much as it does? Advanced mathematics and statistics try to figure out how high the probability for you, your age, your driving experience, the car you drive and so on is to make an accident. Cumulative with all the data gathered from tons on millions of insurance cases the result is your invoice.
This is all data-driven! Well, not a surprise, but how many data needs to be analyzed and ranked to create such a insurance policy? Humans can (not anymore) calculate the tons of millions of data points. Even the insurance claims are now being processed with the help of ai robots.