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The AI in Business Podcast

Lessons from Retail Banking on Solutions for Structuring Insurance Data - with Ermir Qeli of Swiss Re

Jun 11, 2024
18:39
Snipd AI
Ermir Qeli, Head of Data Science in AI at Swiss Re, discusses challenges with unstructured data in insurance tech stacks. He shares insights on scaling systems, generative AI use cases, and fraud detection evolution in the insurance sector. The significance of incorporating unstructured data and visual data in improving fraud detection and customer service is highlighted, along with innovative use cases of video assessment in bicycle insurance claims.
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Podcast summary created with Snipd AI

Quick takeaways

  • Insurance industry struggles with unstructured data, hindering analytics efficiency.
  • Adopting generative AI can optimize data analysis in insurance, improving processes like claims processing.

Deep dives

Challenges in the Insurance Industry Due to Unstructured Data

The insurance industry faces significant challenges due to its reliance on unstructured data, leading to inefficiencies in data analysis processes. Insurance leaders encounter difficulties in data tapping and analysis scalability due to complex IT landscapes and scattered data across systems. The need to access data sets from various systems to perform analytics tasks poses a major obstacle for insurance professionals, affecting their ability to offer efficient tools and insights to their workforce for decision-making.

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