Artificial Intelligence (AI) technologies have rewritten how businesses are run in the digital economy as digital has become the default method of interaction for people and businesses. Automation has long been the solution of choice for improving efficiency in Insurance Claims Management. It will no longer do as creeping loss ratios are toppling the profit margins that companies have been safeguarding. Cognitive computing, one of the AI-based technologies is bringing in human-like reasoning, insights, and decision-making at superior processing speeds to Insurance Claims Management. Cognitive computing holds great promise for reinventing insurance business models and catapulting its operational performance, organization productivity, and overall profit margin.
