Search Results for: health insurance

AI applications for the insurance industry have certainly garnered a lot of press lately. We’ve previously covered such applications in the American and European insurance spaces. Countries in Asia such as China and Japan have large insurance industries and seem to have established national AI strategies.

Along with the rise in popularity of chatbots and simple conversational interfaces, there is growing interest around other natural language processing (NLP) capabilities in the banking, finance, and insurance industries.

When it comes to the healthcare industry, one might be able to think of numerous use cases for AI approaches like machine vision or predictive analytics. However, the applications of natural language processing (NLP) in healthcare are just as varied.

The applications of natural language processing (NLP) have been increasing as more companies find uses for their text data. This includes insurance companies with large stores of data from claims and customer support tickets.

The healthcare industry is perhaps second only to finance when it comes to the sheer amount of historical data available for use with artificial intelligence. Data from EMRs, insurance claims, clinical trials, and drug research and development can all be pulled into a machine learning algorithm to generate insights on patient behavior, patient risk, and effective treatments for a variety of conditions, among a variety of others.

Sensors and mobile devices are in many ways working with AI software for business intelligence purposes in a few industries, including insurance and oil and gas. In the healthcare space, mobile devices and wearables allow patients to receive information on possible diagnoses for their symptoms and to monitor metrics such as their heart rate.

There are several companies claiming to offer AI solutions to healthcare companies, as we've explored extensively in our past reports. In this particular report, we focus on AI as it pertains to working with electronic health records (EHRs) and electronic medical records (EMRs). AI vendors offer solutions to hospitals and clinics with a variety of functions.

This article was originally written as part of an in-depth AI report sponsored by Iron Mountain, and was written, edited and published in alignment with our transparent Emerj sponsored content guidelines. Learn more about our thought leadership and content creation services on our Thought Leadership Services page.

Accenture forecasts that growth in the AI healthcare market is expected to reach $6.6 billion by 2021 from $600 million in 2014, growing at an annual compound rate of 40%. We've covered AI in healthcare extensively on TechEmergence, but in this report we'll be looking at four European companies offering more niche solutions for both business and consumers in the healthcare space. We found that these solutions are intended to help CPG companies with at least one of the following business problems:

KPMG estimated the size of the automotive insurance is expected to shrink by 70% due to the rise in demand for autonomous cars and the shift in liability then being placed on the car manufacturer. With the rise of AI in most sectors, it follows that AI would find its way into the automotive insurance world. AI may allow car insurance companies to keep up with an evolving consumer base that is looking for faster service, faster payouts, and policy prices tailored to them.