Insurance investment teams today face mounting challenges: talent shortages, tight timelines, increasingly complex portfolios and regulatory requirements to name a few. Behind the scenes, artificial intelligence (AI) technologies are helping to address these challenges, dramatically improving operational processes and delivering significant ROI.
There are four variants of AI—machine learning, intelligent process automation (IPA), predictive analytics and natural language processing—that are already alleviating operational bottlenecks and outdated processes within insurance firms across the country. As repetitive tasks and manual processes are being modernized, employees are redirected to more impact-driving work.
In an effort to outsource and streamline processes, different variants of AI, such as IPA, are being implemented to automate typical investment processes, many of which are still highly manual.