The volume of data that insurers need to gather, manage and analyze is growing at an exponential rate as cars, commercial and industrial equipment, fitness wearables and homes are woven into the Internet of Things. Thanks to the billions of sensors and devices joining the connected world, insurers will have a huge amount of information about the lives and assets that they insure. Insurers will need to rely on machines to help them sift through the data to gain insights and make decisions. But this will not mean a simple transfer of tasks from human to machine, it will mean blending automation and human agency to maximize the strengths of technology and the workforce. Watch this Insurance Insight of the Week video to learn the seven steps insurers should take in the next 100 days to better understand the state of intelligent automation and artificial intelligence in their organization. Seven steps for insurers wanting to embed intelligent automation in the workplace VIDEO Leading insurers will embrace automation and artificial intelligence not just to take advantage of the breakneck pace of digital change, but also to create a new digital world where they hold a competitive advantage. Learn more:
Within five years, AI-driven automation will be integrated into every aspect of the insurance sector, according to global professional services company Accenture. Insurers will need to embrace automation to deal with the increase in data as cars, commercial and industrial equipment, home technology and fitness wearables are connected to the internet of things (IoT). Accenture says that blending automation and human insight will be needed to maximise insurers’ efforts.