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Can AI/ML Deliver Growth for Insurers?

Know how customer analytics can help insurers leverage the abundance of available data to generate insights for contextual and event-driven customer-centric actions, and help them address the threat from non-traditional insurance providers.

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In a 2020 study by TCS on insurance digital transformation, insurance providers identified digital technology as the most important driver of profitable growth over the next decade.

COVID-19 has dramatically accelerated the need for digital transformation due to reduced customer face time for agents and the increased customer demand for digital and data-driven products and services. Key drivers include:

  • Changing demographics and the impact of COVID-19 on Life & Annuity insurers and their members
  • The role of data analytics in insurance to drive more engaging, personalized member experiences
  • AI in insurance and machine learning to reshape the L&A value chain, from underwriting, pricing, claims, distribution, to member CX and growth
  • Approaches to getting started and monetizing your data while concurrently undergoing digital transformation
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