Machine learning plays an increasingly significant role in the insurance sector today. It can massively accelerate and empower insurance claims departments’ ability to process, analyse and make decisions based on the increasingly abundant data they have at their fingertips. Feature selection – the process of separating out and retaining a subset of the most useful […]

In our last two blogs, we explored the potential practical applications for Machine Learning in insurance, looking at its use cases in distribution, underwriting and claims. We noted that AI platform revenues within insurance would grow by 23% to $3.4 billion between 2019 and 2024. There are fears regarding the ethics of using AI in […]

DOCOsoft is part of a new breed of “Insurtech” companies that are transforming the world of insurance as we know it through the introduction of Big Data, Machine Learning, and AI capabilities. In a recent Harvard Business Review article, Legacy Companies Need to Become More Data Driven — Fast, the authors observed, “In contrast to traditional […]

Trust is an important word in insurance and never more so when it comes to its ultimate purpose from a policyholder’s point of view – paying claims. Customers expect complete transparency as a minimum requirement and if they don’t get that there is a strong possibility that a regulator or industry ombudsman will act on […]

DOCOInsightsThe need for advanced claims analytics solutions has been driven by globalised competition, data overload, more stringent risk and compliance requirements, new regulations and changing consumer behaviours. Many London market claims teams are therefore turning to analytics to gain insight and enhance performance. Weaving analytics into the organisational fabric can position Managing Agents for strategic, […]