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Max Kraus

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Recent Posts

The Impact of Artificial Intelligence on Insurance Products [PART 3]

Jul 31, 2017 5:33:09 PM / by Max Kraus posted in Insurance Distribution, InsurTech, Artificial Intelligence

Welcome to Part 3 of the Impact of AI series. To recap, Part 2 of this series looked at the impact of selling and distribution and Part 1 looked at the impact of underwriting and risk.

Part 3 of this series will focus on the impact of the product development phase of an insurance product. 

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The Impact of Artificial Intelligence on Selling & Distributing Insurance [PART 2]

Jun 13, 2017 2:53:19 PM / by Max Kraus posted in Innovation, InsurTech

In Part 1 of our Artificial Intelligence (AI) Impact on the Insurance Value Chain series, we looked at the impact it has on underwriting and risk. However, before an individual can be underwritten, an insurance product still needs to be sold and distributed, which is what Part 2 of this series will focus on. According to McKinsey, this step of distribution and selling is the most crowded in insurtech, with nearly 40% of startups attempting to change how consumers buy insurance. 

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The Impact of Artificial Intelligence on the Insurance Value Chain [PART 1]

May 29, 2017 5:08:06 PM / by Max Kraus posted in Innovation

The hottest category of Insurtech in 2017 has arguably been artificial intelligence (AI) as 5 of the largest 15 deals have gone to AI startups. This builds off a strong 2016 that saw 45% of investments in Insurtech going to startups utilizing big data analytics and AI (Rise of the Insurtech – Accenture report). The increased interest and investment in AI is largely due to the prevalence of human interaction and manual processes throughout the insurance value chain.

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Artificial Intelligence Impact on Insurance

Oct 28, 2016 8:00:00 AM / by Max Kraus posted in Insurance, Reinsurance, Innovation, Life Insurance

Did you know that tweets could soon be used to help insurers price premiums? That’s right! Insurance companies are looking into ways to combine social media data with artificial intelligence and predictive modeling to inform coverage among other aspects of insurance programs. Or at least that is what Paul Lucas of Insurance Business Magazine explained in his recent article!

As someone new to insurance, reading about innovative ideas such as this gets me excited for the future of the industry. I mean, it really seems like the opportunities are endless! I had a similar ‘awe-inspired’ experience after recently hearing insights from The Insurance Disrupted Conference.

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