Lower Premiums and Reduce Claim Costs: Driving Adoption and Affordability of AI Empowered Devices
Date: November 7, 2024
4 PM BST · 11 AM EDT
Bottom lines have never been so fragile. Spiraling costs, growing customer demands, and unprecedented uncertainty have left insurers’ at an inflection point. Innovate or stagnate. Despite mounting pressures, the solution lies at insurers fingertips. AI-empowered devices. Utilizing the power of real-time data, insurers have the capability to reduce claim severity and improve underwriting accuracy. However, overcoming affordability concerns and communicating the value proposition of these devices is no easy task.
- Given a multitude of data generating touchpoint, how can the info from these outputs be unified to create a cohesive and comprehensive risk assessment model?
- How can real-time monitoring empower predictive analytics to personalize coverage for customers?
- How can the value of connected devices be communicated with clients to enhance adoption and therefore retention?
- How can the cost of initial investments in connected devices be balanced with the long term benefits of improving risk management and customer satisfaction?
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