The adoption of generative AI has changed traditional workflows and customer expectations in the insurance industry and beyond. Policy holders now expect a higher level customer experience—and with the capabilities of AI, there’s no reason insurance businesses can’t perform, in everything from claims and risk management to pricing and business processes.
In what use cases can generative AI deliver the most value for insurance companies?
- Customer experience: AI-powered virtual agents can assist policy holders with risk assessments and advice in realtime, even offering next steps in claims processing
- Application development and IT operations: Automation offers more performance, cybersecurity, sustainability, reliability from applications, with AI-powered modernization keeping insurance products current
- Digital labor: Generative AI helps workers complete tasks faster, enhancing the quality of their output, from underwriting to claims management
IBM’s suite of insurance solutions leverage data and trustworthy AI in sectors including commercial insurance, casualty insurance, life insurance, risk management and healthcare, to name a few. Read on to learn how modernizing and automating hybrid cloud systems can increase flexibility, resiliency and efficiency.
Case studies
A bancassurance firm creates a competitive advantage using data and AI modeling to forecast across lines
Wholesale insurance provider Swiss Re uses automation in auditing to govern more effectively
With a digital transformation, Aon Italy automates documents and core processes for operational efficiency
Using IBM application discovery tools, Sun Life accelerates digital transformation through modernization
Westfield secures and automates its IT provisioning with data-centric threat management
Banco Bradesco creates a secure and innovative online banking experience using IBM® Z™ and IBM® Storage™ systems