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Insurance is a $5050 Billion industry and dates back to time immemorial. Societies and civilizations had their own ways of providing financial loss and risk prevention protections. Even in modern times, we have seen the insurance sector transform over every passing decade. Since we embarked on the 21st century, human civilization has observed a great… Continue reading How Modern Actuarial Platforms Are Transforming the Insurance Sector

Artificial Intelligence is knocking on the doors of all avenues of human civilization. And the insurance sector is also experiencing a paradigm shift. From traditional actuarial sciences to an AI-powered actuarial ecosystem, the evolution signifies both technological advancement and the fundamental transformation in the insurance sector. Prominent actuarial platforms have already acknowledged the significant potential… Continue reading Leveraging AI in Actuarial Planning for Profitability

Insurance companies and products have been through losses across the globe over the past decades. While there is actuarial science, an evolved methodology to ensure the profitability of insurance products, there are several unforeseen factors that come into play leading to losses on insurance products. Let us evaluate all the factors that force an insurance… Continue reading How Real-Time Adaptability Can Help Insurance Companies Mitigate Risks