Digital Transformation - March 25 2019
Artificial intelligence, natural language processing and machine learning present new opportunities as businesses look for new ways to address productivity gains, talent gaps, maintain competitive edge, profitability, and customer retention. This is especially true for the Commercial insurance market, a several hundred-year-old market that is being bombarded by new entrants, new business models, and new delivery systems.
As with any market, cloud-based technologies are increasing in popularity for their ease of use, ease of access and speed of delivery. They also present multiple cost reduction opportunities as insurers no longer need to maintain, support and buy hardware. Now servers can be spun up in five minutes in cloud hosting environments like AWS, Google, and others, making the integration of new technologies in existing infrastructures much easier and faster.