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Four-fold increase in AI cost savings forecast for insurers

Open-access content Wednesday 20th February 2019 — updated 5.50pm, Wednesday 29th April 2020

Artificial intelligence (AI) is set to have a “highly disruptive” impact on insurance claims management worldwide, leading to a more than four-fold increase in cost savings.

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That is according to study from Juniper Research, which predicts cost savings of $1.3bn (£1bn) across motor, life, property and health insurance in 2023, up from $300m this year.

Read the full article on our Predictions site here.

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This article appeared in our February 2019 issue of The Actuary .
Click here to view this issue

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