The Future of Insurance: How AI is Shaping the Sector

Title

The Future of Insurance: How AI is Shaping the Sector

Creator

Tyagi, Shruti; Saxena, Apurva; Sharma, Bhavna

Description

The combination of AI and insurance was once an idyllic idea, but it has now become an imperative, transforming how insurers analyze, manage, and mitigate risks. AI benefits the insurance sector in a variety of ways. It aids in accelerated underwriting, hazard assessment, more equitable pricing, and tailored policies. AI helps to speed up claim processing and detect fraudulent activity. Furthermore, AI enables the performance of operations by means of lowering administrative overhead via automation. The purpose of the study is to examine the current and potential AI applications in the insurance sector and also to analyse the impact of AI in the insurance sector. The study employed a descriptive research design and the data has been collected through secondary sources like journals, books, reports, websites, etc. The study found that AI has enabled insurers to streamline processes, enhance efficiency, and offer extra customized danger evaluation for its clients. This has led to a seamless and handy revel in for policyholders, in addition to extra correct underwriting and pricing for insurers. Additionally, AI has facilitated the automation of claims processing, taking into account quicker and extra correct claims settlements. However, the implementation of AI within the coverage enterprise also presents demanding issues that need to be solved. 2026 Alka Agnihotri, Anuja Pandey and Balamurugan Balusamy.

Source

Artificial Intelligence in Management: Impact, Challenges and Developments;pp.30-40

Date

01-01-2026

Publisher

CRC Press

Coverage

Tyagi S., School of Commerce, Finance & Accountancy, Christ University, India; Saxena A., School of Commerce, Finance & Accountancy, Christ University, India; Sharma B., School of Commerce, Finance & Accountancy, Christ University, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 978-104058328-9; 978-103288371-7;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1201/9781003559849-2

https://www.scopus.com/pages/publications/105037895046?origin=resultslist