Trust Me, I'm A Robot - The Future of AI and Automation in Insurance with Fujitsu

Technology is changing the way we live and consume service. Insurance has perhaps been the slowest to react to these changes but it is apparent that data is starting to drive personalisation and precision in insurance. “Real-time-risk-management” enabled by the “subscription model” is, in the very near future, going to become main stream in personal insurance. Advancements in data sciences coupled with a fourfold increase in the number of sensors is going to lead to a seismic shift in insurance models from the traditional insurance model of “Protection” to “Prevention”.

Key Takeaways: 1. Data is enabling a shift in the insurance model from protection to prevention.

Whilst Automation is going to help reduce processing costs, AI will provide deep insights and the ability to predict.

AI will enable insurance costs to be viewed as a “service charge” rather than an “annual tax”

Manan Sagar, CTO of Fujitsu, at the AI Applications Virtual Summit, April 2021

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