Artificial Intelligence
Manulife’s AI-investments to deliver threefold ROI by 2027
Manulife’s AI-investments to deliver threefold ROI by 2027
The company realised over $600m in benefits in digitalisation efforts last year.
Ping An integrates AI, big data roles in latest recruitment
The AI aims to assist in job matching, interviews, and salary negotiations.
WTW launches AI tool radar vision for insurers
It aims to improve underwriting profitability and reduce costs.
Insurers shift from traditional to real-time risk analysis
Thanks to increased AI-adoption, threats are also rising with phishing attacks up 135% in 2 months.
A fourth of the insurance industry lacks AI-experienced talent
Other concerns include a lack of customer understanding.
APAC insurers wary of geopolitical instability in next two years
Cyber threats, on the other hand, are a moderate to severe risk.
Chinese consumers most receptive to AI-driven premiums
Australians were the least receptive.
8 in 10 insurers plan to increase tech investment this year
36% of insurers prioritise AI and machine learning.
Insurers in ANZ leverage AI amidst tightening margin
Due to inflation, extreme weather events, and evolving consumer expectations.
Australia’s life insurers top global data readiness
Worldwide, data readiness was the primary obstacle to maximising AI.
Kotak Life launches AI-powered HR assistant
Its chief human resources said it aims to modernise HR services.
How can insurers seize opportunities amidst heightened volatility?
Key strategies include diversification and setting up rigorous capital models.
D&O market faces risks due to insolvencies, AI, geopolitics
Securities class actions have risen by 43% year-on-year in Australia.
Suncorp partner with Duck Creek Technologies to digitalise operations
It aims to replace multiple on-premises legacy systems.
Australian council backs tech-neutral consumer laws for AI
The council also urged the government to avoid regulatory duplication between the ACL and existing financial legislation.
Generative AI slashes P&C claim times by 50% – Bain & Co.
It could also decrease loss-adjusting costs by 20% to 25%.
Insurers are increasing investments in generative AI by 300%
Half of CEOs view AI as an opportunity, whilst the other half see it as a risk.
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