Summer 2019

The value of artificial intelligence is its ability to think like humans do—but at a larger scale and much faster without getting bored or tired. AI is already being used to tackle some of the world’s greatest economic, business, and social challenges. And with data now available at enviable scales, depth, and rates, AI applications are poised to change our world.

Whether in the aftermath of a Sandy, a Harvey, or a Michael, the main objective of post-hurricane damage surveys is to gain as much knowledge as possible about these typically infrequent yet destructive natural catastrophes. Surveys can be critical to assess the built environment’s response and subsequently used to continually improve catastrophe models.

Even though more than half a million cases of insurance fraud were detected in the UK in 2018 (one fraudulent claim per minute), no one expects fraudulent activity to slow down.

More often than not, creating a safe supply chain is considered an expensive endeavor. But resilient supply chains and more sustainable procurement practices can help bolster the bottom line.

The Internet of Things (IoT) promises not only connectivity with everyday objects but new avenues for insurers and other third-party providers to deliver innovative services. When it comes to smarter living, property/casualty insurers are coinvested with consumers in improved outcomes.

Product safety and e-commerce—the two have not gone hand in hand. Rapidly escalating, high-volume sales and profits secured while the customer experience is wrapped in "getting it all and getting it now" has not been a recipe for safe and compliant products.

Midway through 2019, positive signs are appearing on the global solar market. Although 2018 was a year of upheaval for the global solar PV (photovoltaic) market, we’ve seen policy clarity in China and Saudi Arabia as well as highly aggressive solar-plus-storage pricing in Hawaii and bold plans for some of the world’s largest single-site PV projects in India.

Continually capturing and refreshing aerial imagery is an ongoing process, but it’s vital to advancing machine learning far beyond what’s possible today. The current and future applications for this artificial intelligence will be invaluable in helping the insurance industry keep pace with ever-changing customer expectations.