Is artificial intelligence going to be the factor that truly disrupts the UK insurance sector and shakes up century-old working practices? The industry sits on top of a rich resource of data, but has only scratched the surface in harnessing its full potential to transform areas such as risk calculation and claims processing. However, the rapid evolution of artificial intelligence is forcing strategy leaders to rethink the art of the possible in how they can fundamentally rethink the way they engage with customers and run their day-to-day operations. At a time when many providers are struggling to grow revenue, as younger consumers turn their backs on traditional product lines, AI-enabled services are enabling carriers to launch and test new propositions at an unprecedented speed. This report provides an overview of how the UK insurance sector is taking advantage of this shift, and identifies the changing nature of the opportunity for software and IT services providers.
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