BENEFITS AND EFFECTS OF USING AI IN INSURANCE
BENEFITS AND EFFECTS OF USING AI IN INSURANCE

Author(s): Carmen Toderașcu, Dora-Anca Berta, Ovidiu Stofor
Subject(s): Social Sciences, Financial Markets, ICT Information and Communications Technologies
Published by: Editura Universităţii »Alexandru Ioan Cuza« din Iaşi
Keywords: life insurance; insurance sales; artificial intelligence
Summary/Abstract: Insurance is one of the financial fields which registered an extraordinary evolution during the time. Even if the existence of different forms of insurance has been attested since ancient times, there is a mentality that looks at the financial products offered by this branch like "something new on the market". While some insurances are compulsory, the vast majority are optional, so that the individual's priorities list often does not include the purchase of such services. Thus, the insurance consultant's ability to identify together with the potential client, the latter's needs, so that he can offer appropriate financial solutions to the client, is important in carrying out such transactions.Artificial intelligence, one of the most frequently used IT trends of late, can help in this area, making up for the lack of experience that many insurance consultants may have.

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