Success story of AI in the insurance industry
Success story about the development of an AI-based insurance rate calculator. Every policyholder has their own individual tariff. It all began with a successful project at Signal Iduna Versicherung in 2018, and we have since welcomed the third and fourth largest insurance companies in China and the No. 5 in Japan as customers. In the fascinating world of insurance, specifically travel insurance, HighPots has reached a milestone. Our AI product for travel insurance has changed the way rates are calculated and exceeded the expectations of insurance companies. Previously, travel insurance rates were dependent on rigid statistical calculations where actuaries used historical data to make risk assessments. These traditional approaches resulted in standard rates that often failed to keep pace with the dynamic...