Search Results for: health insurance

The ability of companies to collect external data is likely to change the insurance industry as it is today. Traditionally, insurance companies would collect internal data from customers: data such as their weight, gender, and any family history of health issues. However, with the advent of technologies making possible the collection of data specific more to individuals than large groups of people, insurance companies could be able to offer unique, tailor-made policies to their customers.

There is a consensus among industry experts (both from our own insurance AI secondary research, and according to a 2017 Accenture survey report) that AI is going to be a key driver in making insurance products "smarter" in the coming 2-3 years.

The insurance industry is a competitive sector representing an estimated $507 billion or 2.7 percent of the US Gross Domestic Product. As customers become increasingly selective about tailoring their insurance purchases to their unique needs, leading insurers are exploring how machine learning (ML) can improve business operations and customer satisfaction.

Artificial intelligence is likely to affect the entire landscape of insurance as we know it. Change is here, more is coming. Today, the insurance market is dominated by massive national brands and legacy product lines that haven’t substantially evolved in decades. This kind of stagnation has historically suggested that it is an industry ripe to be disrupted.

Episode Summary: If there's any industry ripe for disruption by AI and ML applications, it's healthcare. This week, we speak with Eleven Two Capital's Founder and Managing Partner Shelley Zhuang, whose investment focus (among other spaces) is on innovative healthcare services and applications. In addition to discussing how AI and ML is helping propel genomics, diagnostics, therapeutic treatment, and other innovations into a new paradigm, she touches on what the healthcare space might look like in the next 10 years. For healthcare startups looking to break into the healthcare market, Zhuang doesn't pretend to have simple answers; however, she identifies commonalities among smart companies that have prepared early for meeting regulatory and other industry considerations. This interview was recorded live in San Francisco at Re-Work's Machine Intelligence in Autonomous Vehicles Summit in March 2017.

The last few years have yielded a tremendous amount of attention at the intersection of AI and healthcare, from DeepMind's partnership with the UK's National Health Service to IBM's continued pushes into areas of genomics and drug discovery. From the perspective of healthcare executives, however, many important questions are left unanswered and rarely addressed in detail:
What difference are healthcare's machine learning innovations likely to make in the lives of patients?
What disruptions should healthcare executives prepare themselves for now?
How will the healthcare industry operate differently in 5 or 10 years into the future?
We surveyed over 50 executives of healthcare companies leveraging AI. We aimed to do the hard work of separating the companies actually applying AI from those who use it as a buzzword (over 15 of our initial survey responses were turned down due to lack of evidence of real AI in use), presenting important predictions and industry insights in clear and interactive charts and graphs.
The following research article is broken down into five sections:

While there have been and continue to be innovative and significant machine learning applications in healthcare, the industry has been slower to come to and embrace the big data movement than other industries. But a snail's pace hasn't kept the data from mounting, and the underlying value in the data now available to health care providers and related service providers is a veritable goldmine. In this editorial, we provide an overview of where healthcare's big data actually comes from, and why providing robust data analytics services in this sector matters.

In the broad sweep of AI's current worldly ambitions, machine learning healthcare applications seem to top the list for funding and press in the last three years.

Founded in 1982, Cigna is a healthcare and insurance company based in Bloomfield, Connecticut. Cigna is a Fortune 15 global company and employs over 70,000 individuals. Cigna offers health, life, and accident insurance. They also offer Medicare and Medicaid products.

MetLife is a leading global insurance company headquartered in New York City. It provides its customers various insurance and financial services, including life insurance, health insurance, retirement plans, and investment management.