Responding to challenging times Responding to challenging times KPMG sees machine learning as a fundamental game-changes for the insurance sector. It states that most insurance companies are currently focused on improving compliance, cost structures and competitiveness, and that machine learning can form at least part of the answer to all three. It adds that insurers are generally slow to adopt new technology and this has been the case with machine learning. The report also highlights how AI is being used in other areas such as healthcare where it could help reduce costs by up to 30%.
KPMG sees machine learning as a fundamental game-changes for the insurance sector. It states that most insurance companies are currently focused on improving compliance, cost structures and competitiveness, and that machine learning can form at least part of the answer to all three. It adds that insurers are generally slow to adopt new technology and this has been the case with machine learning. The report also highlights how AI is being used in other areas such as healthcare where it could help reduce costs by up to 30%.