Automated, Intelligent Monitoring Takes Insurance to New Heights

In an independent survey commissioned by Earnix in 2023, every insurance leader surveyed said they plan to use machine learning models in their pricing and underwriting processes this year. However, only 20% of the survey's 400 respondents said they do so today. Furthermore, another Earnix survey found that only 8% were doing intelligent continuous monitoring. 

AI and machine learning (ML), are now required capabilities for insurance carriers. Not implementing these technologies will result in a firm falling behind its competitors.

Reuven Shnaps, Ph.D., Chief Analytics Officer at Earnix outlines the benefits of AI and ML for insurance, how intelligent monitoring can eliminate manual guesswork, and what he sees for the future of intelligent monitoring.