he insurance industry is one of the areas which have been highly disrupted by the emergence of artificial intelligence. For example, the underwriting process, which involves assessing the risk of insurance applicants and determining whether to provide insurance, has been predicted to become significantly faster as machine and deep learning models, powered by a dramatic increase in consumer data, facilitate the automation of the process. Discuss how the use of artificial intelligence in the underwriting process could affect the relationship between the insurer and the insurance applicants. Your explanation must refer to the following: • incomplete contracts • asymmetric information
he insurance industry is one of the areas which have been highly disrupted by the emergence of artificial intelligence. For example, the underwriting process, which involves assessing the risk of insurance applicants and determining whether to provide insurance, has been predicted to become significantly faster as machine and deep learning models, powered by a dramatic increase in consumer data, facilitate the automation of the process. Discuss how the use of artificial intelligence in the underwriting process could affect the relationship between the insurer and the insurance applicants. Your explanation must refer to the following: • incomplete contracts • asymmetric information
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The insurance industry is one of the areas which have been highly disrupted by the emergence of artificial intelligence. For example, the underwriting process, which involves assessing the risk of insurance applicants and determining whether to provide insurance, has been predicted to become significantly faster as machine and deep learning models, powered by a dramatic increase in consumer data, facilitate the automation of the process.
Discuss how the use of artificial intelligence in the underwriting process could affect the relationship between the insurer and the insurance applicants. Your explanation must refer to the following:
• incomplete contracts • asymmetric information
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