You can relive AI specialist Luc Julia’s fascinating talk on the subject:
As Luc Julia reminds us, artificial intelligence is first and foremost used to build tools for very specific tasks. In the insurance sector, artificial intelligence (AI) has found its main uses in the following areas: Actuarial science: AI can enable insurers to facilitate actuarial analysis on very large but necessarily consistent sources. Fraud detection: Insurers can use AI to detect potential fraud patterns. Machine learning algorithms can analyze the behaviors of benefit claimants and healthcare providers to spot anomalies and indicators of fraud. However, this detection still needs to be corroborated by human analysts. Enhanced customer service: Chatbots and virtual agents can be used, but very cautiously. This is because their responses may be binding on the insurer, broker or manager providing the service. The scope of AI’s responses must therefore be strictly limited. Loss prevention: In the future, by analyzing data from IoT (Internet of Things) sensors installed in cars, homes or industrial equipment, insurers will be able to identify and prevent the risk of claims. For example, by monitoring data from sensors in homes, insurers can detect potential water leaks or fires before they cause major damage. For Smalltox, our job is to organize complex data flows in a secure way. The challenge is to design algorithms that are : – Safe to parameterize: this implies the use of models that are easily reproducible and whose behavior can be tested automatically before use; – Complete: that foresee all situations with overflows to human processing when necessary; – Protected by safety nets: ensuring that any problem to be dealt with is brought to the surface until it is resolved. AIs are not yet capable of doing this. Therefore, we continue to use our brains. 🙂