Few would say that insurance is a
progressive sector, always looking to try the latest technologies and utilize
innovative new approaches. In fact, people would mostly say the opposite is
true – insurance is an industry that is conservative by nature and is
inherently cautious about adopting digital technologies that can make it more
efficient and deliver a better customer experience.

But that is changing. We work with some of
the biggest and best-known insurers in the world and one thing common to all of
them over the past few years is a willingness to embrace change and new
approaches. There has been a collective realization across the industry that
there is a strong need for more innovation in the face of potential challengers
to established insurance firms.

With our new suite of applications – Squirro for
Insurance – we are enabling further change, delivering solutions to
specific challenges in the industry and in doing so, transforming elements of
insurance and InsurTech forever.

Augmented Intelligence in Insurance

The deployment of AI and Augmented Intelligence
in insurance over the past few years has started to grow significantly. Accenture
states that 63% of insurers believe intelligent technologies will
completely transform the industry and 67% believe adopting intelligent
technologies will be critical to their organization’s ability to differentiate
in the market in the next three years.