We recently wrote a piece for Insurance Investor highlighting artificial intelligence and how new innovations can revolutionize middle and back-office operations for insurers.
With the increase in M&A activity in the insurance industry, middle- and back-office accounting, operational and reporting needs are becoming increasingly complex. This complexity is driving insurers to seek new technology and solutions providers. The deciding factor in the selection process is often a vender’s ability to improve efficiency and reduce cost through next-generation technologies, as well as expertise in complex asset classes.
Traditional, hard-coded rules and processes lack the intelligent technologies necessary to streamline repetitive tasks, whereas embedded machine learning capabilities can continuously learn and adapt matching rules and tolerance thresholds across multiple counterparties. Embedded AI tools also learn from user behavior and can automate critical tasks and processes, reducing manual efforts.
In the article, we share a more in-depth discussion of machine learning, natural language processing, predictive analytics, and other next-generation technologies, as well as how to choose the right technology, service and deployment model for your needs.
Read the full article on Insurance Investor.
Asset Management, Insurance