Insurers are consuming an ever-increasing amount of data from internal and external sources in their quests to more accurately price risks. But that’s putting a lot of pressure on underwriters.
The solution is likely to come in the form of “digital labor” to help these professionals get the correct insights out of data. That’s according to a recent report from KPMG, “Enabling the Future of Underwriting: A Digital Road Map.”
KPMG says technologies like robotic process automation, artificial intelligence, machine learning and cognitive computing won’t fully replace human underwriters, but will help make them more efficient by being able to quickly analyze lots of unstructured data and provide scores that allow underwriters to be more assured of a risk profile
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