With artificial intelligence (AI) solutions becoming more prevalent and robust, insurance companies are moving away from problem detection and repair to predicting and preventing them. Real-time data processing enables companies leveraging AI and IoT to have a deeper understanding of their client’s needs, and improve real-time service delivery. With so many companies to choose from, Insurance CIO Outlook assembled their list of the Top 10 AI Solution Providers for 2019.
These ten companies stand out among their competitors, solving AI challenges through implementing current technological trends. The insurance industry benefits much from the growing use of AI, such as offering automated video, audio, and image analysis to settle claims quicker.
One Top 10 Company, Deep Fraud, uses their AI analytics to augment triage, investigation, and fraud detection in one purpose-built, scalable solution.
The other Top 10 Companies are:
- Cape Analytics, combining computer vision with deep learning and geospatial imagery to understand risk profiles and property value assets.
- Expert System, using text analytics and cognitive computing to understand written language like a human being.
- ApexonHealth, using AI to improve post and pre-claims payment.
- CLARA analytics, anticipating claimants needs to provide the best resources while reducing costs.
- CyberFortress, offering small businesses a new form of online business interruption policy.
- FRISS, powering SIU, claims, and underwriting with AI.
- Groundspeed Ann, unlocking value in unstructured P&C files with AI for TPA,s brokers, and commercial insurers.
- ai, taking typical reactive service at mid-market and creating proactive and personalized experiences.
- Traffk, boosting predictive accuracy in modeling and actual development through a curated alternative insurance information database.
Companies now see they must embrace AI and IoT into their business strategies to differentiate themselves from competition and protect, if not even grow, their profits.
