Tag: insurance fraud prevention

AI in insurance market is expected to grow from $8.13bn in 2024 to $141.44bn by 2034, driven by investments in AI-powered risk assessment...

A recent report by Capgemini highlights that 62% of insurance executives acknowledge AI and machine learning as crucial for enhancing underwriting quality and reducing fraud. However, only 43% of underwriters consistently trust predictive analytics recommendations. This discrepancy raises an essential question: how can AI truly transform underwriting, and what trends are driving its adoption in the InsurTech industry? Custom software development company Symfa investigates.