AI in the insurance industry – under debate in Ljubljana, on 11 September

7 September 2023 — Daniela GHETU
On Monday, 11 September, the conference entitled "Artificial intelligence in insurance - evolution or revolution?" will take place in Ljubljana, Slovenia, organized by the Insurance Supervision Agency of Slovenia. The events is the 8th is a series of already traditional annual international conferences.

The conference will focus on artificial intelligence and its role in the insurance industry, reviewing the most current developments of the moment, the rise of artificial intelligence (AI), means for insurance, which is considered a traditional industry. One of the questions that the conference will try to find a response to is: How is artificial intelligence changing the rules of the insurance game?

Artificial Intelligence is used by insurers to develop new products, as well as in the optimization of processes and in the analysis of the insurer's experience. It helps insurance companies to identify the behavior of customers and their risk factors, it helps them to identify objects, which makes it easier to assess damages. Continuous communication between the insured and the insurance company is enabled through chat robots that understand human language.

Another topic under debate is: Will artificial intelligence replace some traditional professions in the insurance industry? Will it replace the agent, loss assessor and actuary? In the near future, most likely not yet, but the use of artificial intelligence will certainly enable all these professions to devote more time to the more demanding tasks of their work. The fact is that, given the speed of development in this field, we have yet to see the full breadth of use of artificial intelligence.

To find out more details, check the event’s website.