SYSTEMATIC REVIEW ON ARTIFICIAL INTELLIGENCE(AI) ENABLED INSURANCE SECTOR

Yao Di; Bamini KPD Balakrishnan

doi:10.51200/mjbe.v12i1.6598

Authors

Yao Di
Bamini KPD Balakrishnan

DOI:

https://doi.org/10.51200/mjbe.v12i1.6598

Keywords:

Artificial Intelligence, Internet Insurance, Systematic Review, Risk Management

Abstract

This study looks into the application of AI technology in the insurance industry, Through a systematic literature review, the study initially sorts out the status and progress of existing studies on the application of AI based on risk assessment, claims processing, customer service, and product personalization. Followed by additional analysis on the relevance of the data in terms of content analysis, the role and potential challenges of AI technology in enhancing operational efficiency, improving customer experience, and strengthening risk management. The results of the review showed that the wide application of AI not only improves the intelligence of insurance but also provides support for the long-term competitiveness of the industry. Eventually the study concludes with the future of AI applications in insurance and suggests solutions in line with data privacy, technical barriers, and algorithmic bias.

Author Biographies

Yao Di

College of Applied Science and Technology,
Beijing Union University (BUU),
Beijing 100000, China

Bamini KPD Balakrishnan

Faculty of Business, Economics and Accountancy,
Universiti Malaysia Sabah (UMS),
Kota Kinabalu 88400, Malaysia

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