There are many departments in insurance company like product development, underwriting, risk management, claim settlement, premium collection, marketing, accounts, human resource, information technology, law, planning and development, procurement, and others. Artificial intelligence can help of all departmental operations. Artificial intelligence helps in taking and analyzing the driver's data that helps to charge the customized premium as per need of driver for one day or hours or month. This customization and facilitation introduced usage base insurance concept. Artificial intelligence helps to analyse the data of policyholders to predict and categorize the high or low or medium risky profiles of different policyholders. Accordingly it helps in charging the premium rate. This helps in cutting the cost spent on actuary and human error and time. Artificial intelligence helps to automize the accounting operations in calculating the all transactions. Artificial intelligence helps in...
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