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AI insurance premiums to soar by 2024

Open-access content Monday 12th August 2019 — updated 5.50pm, Wednesday 29th April 2020

Artificial intelligence (AI) will help underwrite $20bn (£17bn) worth of insurance premiums by 2024, a more than fifteen-fold increase on the £1.3bn forecast for this year.

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Increased use of telematics in the motor, home, life and health insurance sectors will be key to this, along with a rise in Internet of Things (IoT) management tools.

Read the full article on our Predictions site here. 


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

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