International Journal of E-Government & E-Business Research
Online ISSN : 2456-8295
Frequency : Half Yearly
Current Issue : Volume 9 , Issue 1
2024
Katta Nagaraju , Jangam Rakesh
*Katta Nagaraju
Lecturer in commerce, SRR Government Arts & Science College (A). Karimnagar,
**Jangam Rakesh
Lecturer in Commerce, Ramakrishna Degree and PG College- Jagtial
DOI : https://doi.org/10.53882/IJEGEBR.2024.0901007 Page No : 64-69
Published Online : 2024-06-30
Download Full Article : PDF Check for Updates
AI in Insurance refers to the use of artificial intelligence to automate tasks, analyze massive volumes of data, track fraudulent activity, and perform a variety of other functions in the insurance industry. It also includes the creation of AI-powered scenario analysis tools. So that insurers can plan for complex market dynamics and regulatory changes. Present study is intended to know the advantages of artificial intelligence for Insurance, to study opportunities available and challenges faced by insurance industry while implementing AI. After analyzing the data it was concluded that, the AI offering a wide range of benefits that improve efficiency, customer experience, and overall business performance. The integration of AI in the Indian insurance business opens up a plethora of potential, ranging from improved consumer experiences to increased operational efficiency. However, these potential come with problems that must be carefully considered and strategically planned for.
Key Words: Artificial Intelligence, Insurance, Opportunities, Advantages, customer experience
Int. J. of E-Gov. & E-Busi Res