Insurance in the Age of Machine Intelligence
Note: This section seems to be a little less interesting than the others, I do not detail for now. I just provide a few copies of graphics and let you refer to the original when needed.
Fraud in a connected world
Insurance companies invest more than € 200m each year to fight against fraud that is developing at high speed.
Thanks to these numerous improvements, organized fraud has been reduced by 30% in 2016 compared to the previous year. This represented 15,000 cases of fraud detected for £ 174m.
There is no reason to rejoice, because everything suggests that fraud has spread to other segments. It should also be noted that fraud often relies on accomplices, professionals in the sectors concerned and who are familiar with the workings and therefore the flaws of the systems.
New wrestling weapons
Anti-fraud services now have powerful new weapons to quickly judge the truth of a disaster: sensors, GPS trackers or other mobile applications. For the moment, few are those who exploit them thoroughly, but all insurers declare wanting to develop these uses in 5 years.
The real revolution, however, will be the use of artificial intelligence and machine learning. They are able to process and analyze multiple data sources and identify repetitive patterns.
The ultra-connected world shows as a major defect a greater exposure to fraud or cyber attacks against these devices.
Among the means of control, the biometric controls or the blockchain appear as reliable solutions.
My opinion on the report” The future of insurance 2017″
This report takes a fairly comprehensive look at the issue of innovation in insurance. The few prospective portions are quite interesting and really seek to reshuffle the cards.
This allows you to quickly understand the major issues of the sector and to see the changes or upheavals to come.
Obviously, this is not a report of expertise of precision and detail, free to everyone, on this blog or elsewhere, to deepen the different topics!
And you, what do you think?