Masaya Mori, global head of the Rakuten Institute of Technology, noted that new technologies are impacting the insurance business in three ways: first, internet advertising using machine learning is being used for customer acquisition and personalization; second, artificial intelligence technologies such as chatbots and image recognition are helping insurance customers with applications and other tasks; and third, mobile devices are helping insurers better understand and support customer lifestyles.
“Through these technologies we can optimize insurance products and predict the churn rate (the rate at which customers will cancel a policy), which is another way of using big data,” Mori said, adding that deep learning technologies, a major focus of the recently created Rakuten Life Insurance Technology Laboratory, are quickly being adopted in the industry.
rakuten.today/blog/apps-ai-blockchain-insurance-industry.html
“Through these technologies we can optimize insurance products and predict the churn rate (the rate at which customers will cancel a policy), which is another way of using big data,” Mori said, adding that deep learning technologies, a major focus of the recently created Rakuten Life Insurance Technology Laboratory, are quickly being adopted in the industry.
rakuten.today/blog/apps-ai-blockchain-insurance-industry.html