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Computer Vision in Insurance – Thematic Research

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.

Scope

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.

Companies mentioned

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

| Contents

Executive summary

Players

Technology briefing

Definitions

Four key CV technologies

Trends

Technology trends

Macroeconomic trends

Regulatory trends

Industry analysis

CV market size and growth forecasts

What is the insurance industry’s outlook on CV?

Key use cases

Property insurance

Contents/item insurance

Motor insurance

Protection insurance

Mergers and acquisitions

Timeline

Value chain

Product development

Marketing and distribution

Underwriting

Non-life insurers and reinsurers

Life insurers

Claims management

Customer service

Companies

Public companies

Private companies

Glossary

Further reading

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