The increasing complexity and interconnectedness of the world have highlighted the importance of insurance, particularly in developing countries where many lack adequate coverage. Artificial Intelligence offers a solution by improving risk assessment, enhancing underwriting efficiency, streamlining claims processing, enabling personalised pricing, and enhancing customer engagement. By leveraging AI in the insurance industry, we can increase insurance penetration, making insurance more accessible and affordable for everyone, ultimately promoting economic stability and improving overall quality of life.
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