How Does the Insurance Industry Use Artificial Intelligence?

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Risk assessment: The core of the insurance industry business is risk measurement and evaluation. Using artificial intelligence and machine learning technology, insurance companies can use massive amounts of data to assess risks and understand new correlations and patterns more accurately. It helps insurance companies gain deeper insights, make better predictions, formulate insurance plans, and adjust premiums accordingly. For example, through AI, if an insurance company finds that a particular insurer is at a higher risk of a fire accident, it can adjust the premium.

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