As Insurance carriers continue to search for ways to differentiate themselves in a highly competitive industry, business strategies built in whole or in part on emerging technologies have become the norm. Insurers looking to gain or maintain a competitive advantage in the industry realize that an easily accessible, streamlined user experience is no longer a novelty but a necessity. For those insurers, the evolving offerings in artificial intelligence (AI) and analytics provide enticing options.

This paper sets out seven foundational steps insurance companies should consider when incorporating AI and analytics into existing operating models.

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