The Limits of AI-Based Insurance
The Challenges of AI in Insurance IndustryArtificial Intelligence (AI) has revolutionized many industries, including insurance. However, there are challenges that come with incorporating AI into the insurance sector. One of the main challenges is the lack of transparency in AI algorithms. Insurance companies often use complex AI models to calculate risks and premiums, but these algorithms are not always transparent to customers. This can lead to mistrust and skepticism among policyholders. Additionally, AI may not always be able to accurately predict certain events, such as natural disasters or pandemics, which can impact the insurance industry significantly.
Another challenge of AI in the insurance industry is the potential for bias in decision-making. AI algorithms are trained on histor...







