Tag: Patrick Ashton

The adoption of accelerated, or automated underwriting, which uses advanced artificial intelligence and machine learning technologies to evaluate risk and underwrite life insurance, has been limited to date. This can partly be attributed to insurers cautiously rolling out automated decision-making, opting instead for small-scale improvements to risk frameworks.

Artificial intelligence (AI) provides banks with the means to make better use of the massive amount of data at their disposal. In doing so, they can identify opportunities for growth faster and gain significant competitive advantage at a time when more agile digital counterparts are emerging.