The world is growing, and change is inevitable. Among the key demands to meet and suit the current status of the world is information technological advancements, especially Artificial Intelligence (AI). The tech industry must apply AI to survive and successfully serve the millennial generation. Information tech advancements have led to the production of new products and enabled businesses to leverage wealth amassed by digital insights that technology provides.
The insurance sector hasn’t been an exception; Hauser Insurance has been at the forefront in embracing Artificial intelligence. It was founded by Mark Hauser as a national, full-service brokerage and affirmed that AI dramatically reduces time and costs. Hauser Insurance aims at developing unique insurance solutions for all organizations while prioritizing the needs of private equity firms and their companies. To achieve this, Hauser must ensure that fund managers comprehend and are protected from the current complex risks that are likely to reoccur in the future. Mark Hauser highlighted the following positive change that AI will likely bring to the insurance industry.
Predictive AI in system failures and workplace injuries
Predictive systems are among the Artificial Intelligence advancements likely to affect the insurance industry. According to the Future Today Institute reports, Intenseye, a Turkish company, uses a computer vision model. This facial recognition tech identifies the safety and health incidents of 40 types of employees in real-time. The program has enabled this firm to identify 1.8 million unsafe acts over the past two years. It has helped them understand the necessary reinforcement, additional training, and where there are liabilities. Voxel, a company based in San Francisco, has started employing computer vision models that enable security cameras to detect high-risk activities automatically and in real-time.
The change is a game-changer and will see insurance companies grow to greater heights. Thanks to Mark Hauser for being a pillar in Hauser Insurance. He’s also Hauser Private Equity (HPE) founder and a force to be reckoned with.
Original source to learn more: https://www.chrishauserinsurance.com/