A Neural Network

What is it about? A neural network picks the optimal output from a list of choices. This has many practical implications. Traditionally it would be performed by a human but now there is machine learning techniques which do this very well. The network can work directly on raw data. For instance images which makes it fast with little manual intervention. For instance a claims payments process include input from the…

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Growth in Cyber Insurance

Introduction Cyber attacks are on the rise. Hackers are increasingly looking to take advantage of vulnerabilities to steal valuable customer data, including financial details and personal information. For corporations, the impact of these attacks goes far beyond data loss. Insurance Today, businesses struggle to identify, assess vulnerability and respond to digital threats and cyber attacks. This is a significant gap — and one that insurers can help bridge. The cyber insurance…

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Machine learning – Automation of Claim Processing

Introduction Artificial intelligence can definitely help in the claims processing. As it often is with technology the key is to automate say 80% of the time/cost and then handle the remaining 20% manually. The reason being, of course, 100% automation is hard to achieve. Paperwork, manually written notifications, follow-ups, and underwriting are usually boring to do. Automation allows companies to reduce the cost that is spent on routine work and…

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