Navigating the New Insurance Landscape: A Data-Driven Revolution [Video]

Artificial intelligence and business analytics are rapidly evolving fields that are at the forefront of transforming industries and redefining business practices. With the emergence of advanced technologies, the insurance sector is undergoing a profound transformation. Data has always been an important aspect of decision-making in the insurance sector. Long before the advent of computers, the insurance industry collected and stored all data manually. With the digitization of the insurance sector, the data has become available online, making it easily accessible.

With the massive amount of collected data and its complexities, the standard analytics methodologies were ineffective at obtaining comprehensive insights. However, with the advent of advanced technologies such as machine learning, artificial intelligence, and predictive modeling, the insurance sector underwent a significant transformation. These technologies have revolutionized the way insurance companies conduct business, enabling better decision-making, improved customer experiences, and increased efficiency and cost savings.

Today’s insurance industry is dominated …