Artificial Intelligence in the Insurance Era: Benefits of AI and challenges of AI in Insurance sector
Affiliation
| DOI | https://doi.org/10.67313/stanzaleafbookchapter.2026.10 Registered |
| Published In | INSURING EMERGING RISKS ADDRESSING PANDEMICS CYBER ATTACKS AND POLITICAL ISSUES |
| Book Editors | Ramya A J. Deepak Kumar K.M. Anitha R. Srikala J. Chandhini |
| ISBN | 978-81-687720-2-1 |
| Pages | 66-72 |
| Publication Date | 17 July 2026 |
| Publisher | Stanzaleaf Publication |
Abstract
Artificial Intelligence (AI) is revolutionizing the insurance industry by transforming traditional business models, improving operational efficiency, enhancing customer experience, and enabling data-driven decision-making. Technologies such as machine learning, predictive analytics, natural language processing, computer vision, and generative AI are helping insurers automate processes, assess risks more accurately, detect fraud, personalize insurance products, and expedite claim settlements. As customer expectations continue to evolve, AI has become a strategic tool for insurers seeking to remain competitive in the digital economy.
Keywords
Artificial Intelligence (AI), Data-Driven Decision-Making, Machine Learning, Predictive Analytics, Natural Language Processing.