• Skip to main content
  • Skip to footer

Starbridge Partners

Data Science Recruiters

  • About Us
  • Open Data Science Roles
  • Data Science Report!
  • Testimonials
  • Contact Us

Article | “Machine Learning – Insurance Applications Use Cases”

Go Back

January 21, 2019 By Starbridge Partners

  • Source: Vitalflux | December 16, 2018
    Author: Ajitesh Kumar

In this post, you will learn about some of the following insurance applications use cases where machine learning or AI-powered solution can be applied:

  • Insurance advice to consumers and agents
  • Claims processing
  • Fraud protection
  • Risk management

Insurance Advice to Consumers: Machine learning models could be trained to recommend the tailor made products based on the learning of the consumer profiles and related attributes such as queries etc from the past data. Such models could be integrated with Chatbots (Google Dialog flow, Amazon Lex etc) applications to create intelligent digital agents (Bots/apps) which could understand the intent of the user, collect appropriate data from the user (using prompts) and use the underlying model to recommend the tailor-made products. Alternatively, traditionally speaking, consumers could be asked to provide their details using inquiry form and the form submission part of applications could invoke the model to get the recommendation for tailor-made products. The following represents a quick application/technology architecture covering different components of applications including machine learning models deployed on AWS infrastructure:

 

Insurance Advice to Agents: Machine learning models could be trained to recommend the tailor-made products to agents in relation to health, home, commercial etc to provide accurate information to their clients. These become more useful when there are new products under a different category and it gets difficult to train all of the agents working in different locations. A Chatbot application integrated with a machine learning model trained to recommend an appropriate product (especially new ones) based on consumer queries would prove very handy for the agents. The above diagram represents a quick application architecture covering different components including machine learning models.

Go to the full article

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • More
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)

Filed Under: Artificial Intelligence (A.I.), Case Studies, Financial Services, Machine learning, News Articles Tagged With: Artificial Intelligence, Insurance, Machine Learning, use cases

Go Back

Footer

Starbridge Partners LLC

Starbridge Partners is a specialty executive search firm focused entirely on data science recruiting  for our clients.

office: (646) 535-9533

Subscribe For Free

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Important Links

  • Contact Us
  • About Us
  • View Job Listings

Copyright © 2019 Starbridge Partners

Small Business Web Design - JSMT Media