As artificial intelligence (AI) gains more widespread adoption in insurance and other industries, we see four distinct uses for it. In this article, we examine them and describe some current and potential future applications.

Executive Summary

After defining four types of artificial intelligence—assisted AI, automated AI, augmented AI and autonomous AI—PwC's Dr. Anand Rao provides some guidelines that insurers can follow to determine which type of intelligence applies to various commercial underwriting tasks and decisions.

Early applications of AI in commercial insurance have focused on well-defined tasks with systems that are programmed or logic and analysis that is hardwired. For example, a new business and underwriting system that can orchestrate multiple aggregator systems, pull data from them to populate the new business systems and provide a quote is a good example of a well-defined automation task. In this particular case, there is no need for the intervention of any human operators. We call these types of well-defined, fixed systems with no human in the loop “automated intelligence.”

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