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InsurTech Tractable, has partnered with The UN Capital Development Fund (UNCDF), to bring the speed and accuracy of artificial intelligence (AI) to disaster recovery in Fiji.
Root Insurance, a public US-based InsurTech company, has teamed up with InsurTech100 company Tractable to bolster its claims operations.
InsurTech Tractable’s AI technology has expanded from assessing auto damage, to property. For the technology, this is a big step, but one in which the InsurTech is tackling.
Innovation in the insurance industry is not just important, it is essential. A more dynamic market has meant insurers are venturing into non-traditional sectors as well as looking for more advanced ways of serving existing markets. The industry must ramp up its innovation efforts if it is to tackle increasingly threatening risks, such as climate events and cyber-attacks.
American Family Insurance, one of the largest players in US property and casualty insurance, is partnering with Tractable to apply its artificial intelligence (AI) solutions.
Businesses must act now to adapt to the challenges of today and unlock greater growth potential, without sacrificing the health of the planet. Applied AI technologies could be paramount in achieving this.
It has been said AI is not a silver bullet to all the insurance industry’s shortcomings. So, what’s all the chatter about? Where is it best suited, and what (if any) are its limits?