Insurance Archives - Black Rock IT Solutions – Software Product Engineering Services

By Bijaya
July 5, 2023
No Comments

Revolutionizing the Insurance Industry with AI

The insurance industry stands at the cusp of a remarkable transformation driven by the rapid advancements in artificial intelligence (AI). With AI seeping into every aspect of business operations, insurance companies are leveraging this technology to enhance underwriting and risk assessment, streamline claims processing, and offer personalized insurance products and services.

By Aarathi Jaikrishnan
January 13, 2023
No Comments

Machine Learning Techniques for Detecting Insurance Claims Fraud

Insurance claims fraud is a serious issue that can lead to higher premiums for honest policyholders and financial losses for insurance companies. To combat this problem, insurance companies have turned to machine learning techniques to detect fraudulent claims.

By Aarathi Jaikrishnan
December 29, 2022
No Comments

The Impact of Artificial Intelligence on the Future of Insurance

AI is being used more and more by insurance companies to enhance underwriting and risk assessment, automate claims processing, and customize insurance products and services.

By Aakash Binu
October 26, 2021
No Comments

InsurTech Trends – Blockchain, AI, ML & IoT

Even as the COVID-19 pandemic releases its vice-like grip on the world, insurance has become and continues to be a matter a public discussion. In this new era of actuarial science, it is important to see why IT can be a key in elevating your P&C firm to the next level.

By Mohamed Farook
October 8, 2020
No Comments

How Artificial Intelligence is Revolutionizing the Health Insurance Industry

Digital disruption has invariably affected the health insurance industry. Various players in the industry are now leveraging the latest digital technologies such as Artificial intelligence (AI), Big Data Analytics, and the Internet of Things to improve their offerings overall. As predicted by Accenture, the majority of insurance executives believe that artificial intelligence (AI) will significantly transform the industry, and McKinsey estimates that the potential total annual value of the AI and Analytics industry will be $1.1 trillion if it is applied to its full potential in the Insurance domain.