Today, with fierce competition in the insurance industry, it is imperative for insurance companies to up their game in customer experience. Faster policy issuance, faster customer grievances resolution and faster claims closures help insurance companies attract more customers to them. At the same time, the companies must mitigate their risks of customer churn and early or fraudulent claims. With advancement in technology insurance companies today have huge amounts of data in a variety of formats such as videos, images, audios, text. With the advances in AI and Artificial Neural Networks, this data can be fully leveraged to support the companies in making quick informed decisions.
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