Computer vision uses AI to analyze images and videos to identify objects and provide actionable insights. Within the insurance industry, computer vision technology is currently being used to help improve both underwriting and claims processes. Computer vision enables insurers to capture underwriting data more easily and allows for the use of new data that was not traditionally used. It also allows insurers to expedite the claims process by letting AI perform damage assessments using pictures, rather than in-person appraisals. This improves the overall customer experience, as policies can be priced more accurately and efficiently while claims can be settled in a timelier manner.
GlobalData estimates the computer vision market to be worth $28bn in 2030.
Within the insurance industry, computer vision is being most utilized by motor and property insurers.
Insurers prefer to partner with computer vision technology providers rather than developing solutions in-house.
Reasons to buy
Identify the impacts computer vision will have on the insurance value chain.
Identify key players in the computer vision industry that are providing insurance solutions.
Plan for the future to stay ahead of the competition.
Admiral, Ageas, Aon. Covea, Gen Re, The Hartford, ICICI Lombard. Legal & General, MS&AD, Munich Re, National Interstate Corporation, Nationwide, Ping An, Swiss Re, Travelers, Tokio Marine, Zurich, Betterview, Cape Analytics, Kespry, Lapetus Solutions, Pineapple, Sicara, Tractable, USAA, Zesty.ai, Google, Microsoft
Table of Contents
Four key CV technologies
CV market size and growth forecasts
What is the insurance industry’s outlook on CV?
Key use cases
Mergers and acquisitions
Marketing and distribution
Non-life insurers and reinsurers
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