Will Machines Really Replace Insurance Agents?

There has been a lot of talk lately about “machine learning,” and how it enables computer systems to evolve algorithms, without programmer intervention, as these systems take in updated knowledge and insights. In other words, algorithms are capable of learning and making appropriate shifts in the predictions they produce. Is the insurance industry ripe for machine learning? Where will it produce the greatest benefits? Analytics are already being applied in data-intensive areas ranging from fraud detection to applicants’ risk profiles, so there already is an artificial intelligence aspect of today’s operations. There’s plenty more where that came from, notes Steve Anderson, a well-regarded expect on all things insurance technology related. In a recent post, he explored the future possibilities of what machine learning can, and can’t add to insurance operations.…

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