2023 global investments in AI firms disrupting insurance reached $2bn, increasing 18% YoY.
Investments in AI firms disrupting the insurance sector reached $2bn globally in 2023, rising 18% year-on-year. Insurance providers integrate AI models with actuarial sciences to enhance risk analysis and streamline claim processing workflows. Recent progress in AI, supported by Large Language Models (LLMs) and generative AI, marks a new phase of disruption within the insurance sector, according to GlobalData's report.
April 22, 2024
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