The Utilization of Artificial Intelligence in Healthcare Insurance

DOI: https://doi.org/10.62517/jse.202411607

Author(s)

Jiaming Zuo

Affiliation(s)

Everbright Actuarial Consulting Limited, Hong Kong, China

Abstract

Artificial intelligence is revolutionizing the health insurance industry by streamlining operations and significantly enhancing efficiency across various processes. This article delves into the transformative impact of Artificial Intelligence (AI) on the healthcare insurance sector, shedding light on its diverse applications, impressive benefits, and the challenges that come with its implementation. With the ability to analyze vast amounts of data rapidly, AI improves efficiency in numerous areas, including customer experience, risk assessment, and claims processing. For instance, AI-powered chatbots provide immediate assistance to customers, addressing inquiries and facilitating smoother communication. Moreover, sophisticated algorithms enable insurers to assess risk more accurately, leading to more tailored and fair pricing for policyholders. However, while the potential of AI is vast, the industry must also navigate challenges such as data privacy concerns and the need for regulatory compliance. Overall, the integration of AI in health insurance is paving the way for innovative solutions that promise to enhance service delivery and customer satisfaction.

Keywords

Predictive Analytics; Risk Assessment; Claims Processing; Machine Learning; Chronic Disease; Data Security; Consumer Trust.

References

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