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December 15, 2021

Artificial Intelligence and Machine Learning

By Roger Duffield CPCU, ARM

It is an exciting time to be in the insurance industry. Recently one of our colleagues was reading an article from the ’90s on the state of insurance risk control programs and the challenges they face. Despite all of the technology improvements he observed that many of the same challenges exist today, I would agree with him.

In2vate is investing in the use of Artificial Intelligence (AI) and Machine Learning (ML) for the claims and risk management processes. We are focused on using AI/ML to identify data trends that are not easily measurable or would take many man-hours to discover. After we have identified these trends, we can look at a loss control program and make sure that it is prepared to meet to address them.

But knowledge alone is not enough to enact change – there must be a way to educate your decision-makers. In2vate is using our proprietary online platform to house our claims display, assessment technology and this allows an organization to quickly ingest that knowledge to adjust their education strategies and mitigation efforts for maximum impact. 

Utilizing a single platform to identify risk, implement strategies, measure the outcomes, and adjust in real-time is a major step in what the industry has been looking to do for decades. We are excited about the future and how we can help take an organization from theory to practice.