Artificial intelligence is still in its infancy
Artificial intelligence is still in its infancy Artificial intelligence is still in its infancy In anticipation of future technological advancement, insurance firms are already experimenting with methods to integrate AI into their daily operations. Breen: " AI is in its infancy." "We use computers for tedious, repetitive work, but we're not there yet." We're merely enhancing humanity." That's a big difference, he remarked. Argo Group underwriters are managing portfolios instead of reviewing every application. Standard, predictable claims are handled by machine learning algorithms, while the human underwriter fine-tunes the process and makes higher-order decisions. Pogreb predicts greater underwriting efficiencies. She expects machine learning to reduce the amount of applications an underwriter must process. Pogreb said technology and machine learning can replace much human underwriting. The fraction of insurance app...