Global AI in Insurance Market was valued at USD xx Bn in 2019 and is expected to reach at USD xx Bn by 2027 at a CAGR of xx% over forecast period 2020-2027.
Global AI in Insurance Market Dynamic’s:
Artificial intelligence will revolutionize the insurance industry. Seventy-five percent of insurance executives agree. As intelligent automation in the back office evolves to virtual assistance on the front lines, AI will become the digital face of brands. Many insurance companies are moving slowly to implement AI solutions, unsure what investments to make in an environment where technology evolves rapidly. AI in insurance can improve all facets of policy administration, underwriting, billing, and customer relations, but it should also be used to improve the internal operations of insurers themselves. Various factors such as an increasing need to offer personalized insurance services, growing need to automate the operational process and the rising adoption of IoT technologies are driving the market growth over forecast period.