Artificial Intelligence for Insurance Industry: A Survey

Abstract

The cost of insurance is rising all over the world, with frequent proposed policies and fraud playing a role. In recent years, AI techniques have been increasingly used for numerous insurance tasks. However, AI researchers frequently struggle technically to understand the vast and sophisticated domain knowledge as well as rapidly changing literature. Although several studies have already been published on the use of artificial intelligence in the context of specific insurance tasks, our work provides a unified general survey of the existing literature, incorporating various AI techniques into all major insurance tasks by providing a systematic literature survey of the rapidly growing literature on artificial intelligence in the insurance industry. From 2017 to the present, we focus our research on machine learning, big data, blockchain, data mining, chatbot theory, and its application in fraud detection, insurance policy, claim prediction, rick prediction, and other areas to systematically introduce existing work in the insurance sector using AI techniques.