Digital Transformation with Artificial Intelligence in the Insurance Industry

Abstract

In today's world artificial intelligence studies are applied in many sectors. There are companies in the insurance field that use data-driven and innovative technologies. The insurance industry depends on the ability to be competitive in the market with the right analysis of customer data and the right products. The insurance industry is a challenging area where customer data needs to be analyzed correctly. Artificial intelligence-supported analysis of customer behavior provides a competitive and more profitable structure. All steps from actuarial calculation to customer claim transactions can become much more effective with artificial intelligence. In the research, artificial intelligence products used by today's insurance companies were examined. An alternative model based on real practice data, much more detailed than other studies in the literature, is recommended in the research. The research offers innovative approaches to artificial intelligence and digital transformation studies.