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Is AI Disruption on the way for Kenya’s Insurance Space?

The earliest known reason for introducing insurance protection in Kenya, came during the time of the Colonial British — when they insured their farms and crops against loss, damage etc. Today, Kenya has 70% of the East African Insurance market (among Burundi, Uganda, Tanzania & Rwanda). Still, African Insurance is relatively nascent in terms of […]

Insurtechs are Thriving with Machine Learning. Here’s how.

Modern Insurance is only around 250 years old, about when the necessary statistical and mathematical tools to underwrite a business venture came to be. But statistical models, even the most advanced ones, need a very specific type of enriched data-diet for it to work optimally. Since then, the industry has always had to rely on […]

Is AI replacing Architects?

Architecture is perhaps the most complex discipline operating in more dimensions than any other coordinated human activity. However with the advancement of artificial intelligence, like every other profession, architects to are worried about the level of automation that has already taken away specific tasks from their roles. While the ‘Humans are hooked and Machines are […]

TOP 10 INNOVATIVE INSURANCE PRODUCTS OF 2019

  We are witnessing the slow but sure, uberization of insurance. Insurers now more than ever, need big data-driven insights to assess risk, reduce claims, and create value for their customers. The industry is abuzz with a steady influx of new innovative products, deriving value in areas that were previously untapped. Processes like faster KYC […]

Adoption of Chatbots across Insurance

The global chatbot market is expected to reach USD$ 1.25B by 2025, and generate roughly $8B savings globally by 2022 itself. With chatbots disrupting a wide variety of industries already, the technology is becoming more popular in a variety of business use cases – especially within the insurance sector.   Chatbots are becoming more advanced […]

Cognitive Approach VS Digital Approach to Insurance

Digital transformation has gone from talk to action, with a momentum that shows no signs of slowing down. As cognitive capabilities have penetrated process, people, technology, things, augmented intelligence and decision making; the cognitive approach to insurance business is no longer considered a back-office ‘efficiency play’.  A cognitive computing system replicates human intelligence and comes […]

Smart Devices for Smarter Insurance

With the advent of AI and cognitive automation at a rapid pace, there has been a holistic approach to insurance automation. Automation and IoT are already a reality for insurance. As per reports, AI in insurance reduces premium costs up to 25% while automation can help cut the claim processing cost by 30%. Innovation and […]

Key Takeaways of Indian Insurance Summit & Awards 2019

India, despite being the 2nd most populous country on the planet, accounts for only 1.5% of the World insurance premiums, and 2% of World life insurance premiums. But, with the increasing numbers to serve, the insurance market in India promises huge growth and exciting potential – were only about 20% of Indians were insured last year. […]

Google I/O 2018, Day 2 Highlights: AI for Healthcare Sector

The second day of the Google I/O 18 consisted of several talks including AI and ML in healthcare sector, Web Assembly, Polymer, Chrome Dev Tools, Flutter. Let’s dive in to know what’s new and the improvements that have been made to the web! Artificial Intelligence(AI):   Google’s AI to Improve Healthcare We all have unfortunately, […]

AI in Mobile Development

How hard is it to develop an AI app? – In the realm of AI, it is a constant journey and not a destination. Indeed, AI developers and experts are on a mission of solving the most complex problem – human behaviour. They are on a path to study patterns and produce results that a […]

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