Unlocking the potential of image analytics in the insurance industry
2020 will always be known as the year of the pandemic. It will also be known as a rough year for the insurance industry, having posted $55 Billion in losses. At the same time, it was also the year of digital transformation for the insurance industry, the pandemic having accelerated the need to bring about the much-needed technological innovations and digitisation of the insurance industry. In the process of reimagining the mostly manual, data-driven and time-consuming processes, one technology has stood out as particularly beneficial to insurers is Artificial Intelligence, of which Image Analytics has proven itself as particularly transformational in how the insurance industry manages its various processes including claims and risk assessment.
