Tracks > Track 5: AI in the insurance industry

Track 5: AI in the insurance industry

The ability of Artificial Intelligence (AI) to rapidly analyse large amounts of data is a powerful tool for insurers in forecasting and assessing risks, particularly when the source of data is significant, as in the case of risks associated with climate change, such as so-called ‘catastrophe risks’. AI opens up new perspectives for the insurance industry, enabling a more personalised, predictive and efficient approach to risk assessment, policy and claims management and customer service. AI promises to radically transform the way insurance companies understand, assess and mitigate risk, offering solutions tailored to the individual and collective needs of customers. It will certainly improve the accuracy of underwriting policies by more clearly and,
above all, more rapidly delineating the risk profile that insurers are considering taking on in relation to the needs expressed by customers. The research work aims to contribute to the advancement of theory and practice on AI and insurance service innovation through the definition of models suitable for analysing and understanding the specificities of innovation in insurance services and the identification of risk factors that can affect the success of development strategies and innovation processes.

Keywords:  Artificial intelligence management, insurance, data, catastrophe risks

Coordinator: Antonio Coviello antonio.coviello@cnr.it