March 1, 2018 INNOVATION EXECUTIVE BOARD · T es t & Deploy Deliv er y Management Implementation...

ARTIFICIAL INTELLIGENCE IN INSURANCE

John MulhallSharad Sachdev

March 1, 2018INSURANCEINNOVATIONEXECUTIVEBOARD

SENSE COMPREHEND

LEARN

A CONSTELLATION OF

TECHNOLOGIES THAT EXTENDS

HUMAN CAPABILITIES

WHAT IS ARTIFICIAL INTELLIGENCE (AI)?

How Does this all Fit Together?

Knowledge Representation

Search and Optimization

Predictive Systems

Biometrics, Facial & Gesture

Recognition

Genomic and *iomicAnalysis

Virtual Agent

PersonalityInsight

Expert Systems

(Inference)

Intelligent Automation

RecommendationSystems

Text, speechimage &

video analytics

Augmented Reality

Deep Learning

Shallow Learning

Deep Neural Networks

RegressionSVM

Intelligent Products

NaturalLanguage

Understanding

Computer Vision

Speech to Text

Audio & Signal

Processing

AI TECHNOLOGIES & APPLICATIONS

Copyright © 2018 Accenture. All rights reserved. 4

WHAT CAN AI DO TODAY?


DRIVING BETTER HEALTH

GREATER ACCURACY IN GENOME

SEQUENCING USING DEEP

LEARNING

80%


INTELLIGENT LIFE

INSURANCE

UNDERWRITING

Expanding AI Capabilities

From Healthcare To Life

Insurance

Deep Learning Algorithm to automate medical

file analyses to enable more automated

underwriting

Algorithms focused on “analyzing medical

files” to identify life risk indicators, with the

goal to streamline life underwriting


INTELLIGENT “COMMERCIAL

AUTO” UNDERWRITING

USING AI AND MACHINE

LEARNING

3-way partnership between

Japanese Insurer, Auto Fleet

company and Accenture

We developed Deep Learning Algorithms to

monitor and improve driving risks, thereby

helping the fleet manager optimize premium

while reducing exposure for Insurance

company

▪ Solution is focused on Monitoring of Driver Behavior

through In-car and outside video, Geo-location and

Biometric data

▪ It informs the fleet management and insurance

company on driving behavior on an ongoing basis


Commercial Insurer

Leveraging External Signals To Inform

Commercial Underwriting

MORE INFORMED

UNDERWRITING

Copyright © 2018 Accenture All rights reserved. 9

Numerous Insurers

Deep Learning Algorithm to detect extent of

auto damage

Automation of Commercial Claims Processes

to drive efficiencies

MORE EFFICIENT

CLAIMS


DIGITAL PROSPECTING AND CUSTOMER MGMTEXAMPLE: NA INSURER - US CONSUMER 360 FOR 250MM US CONSUMERS


WHAT IS REQUIRED TO MAKE AI HAPPEN?


SIMPLIFICATION JOURNEY: TOP 10 P&C INSURER CASE-STUDY

Over the past several months, the client and Accenture have partnered together to identify, test and build

market-leading AI capabilities to support underwriting

Phase 3: AI Capability Buildout (Active Engagement)

Phase 1: AI PoC UW Assessment (2 Weeks) Phase 2: Pilot ORMS (6 weeks)

Workshops with IT to review tool /

architecture choice for AI

AI in Action: Use cases and

demos of potential AI solutions

for Client

JAD session with IT to define

MVP to full solution journey

Working sessions with various

Accenture SME’s across

Insurance Strategy / AI

• Evaluated 3 starting hypotheses (UW authority, class code & UW knowledge) as

well as identified 44 other potential AI Use Cases in Commercial Underwriting

• Narrowed down the 44 uses cases to 5 and facilitated a prioritization discussion to

define PoC approach and cost for phase two engagement

• 6 week POC designed to improve the efficiency and effectiveness by which Public

Entity underwriters can evaluate potential liability risks

• Served as the initial framework for a technology stack Client could reuse across the

organization to deliver AI capabilities

Quote/NegotiateRating / PricingUnderwriting

EvaluationTriageIntake/Clearance

5 POC Cases

PE NB WinProbabilityAnalysis

BI Renewal Risk

PE NB/RWExternal Risk Assessment

PE NB/RWVisual Analysis of Building and Risk

Comparative Rate View


VALUE DIAGNOSTIC: WHERE IS THE VALUELIFE UNDERWRITING VALUE CHAIN EXAMPLE

e.g., SolutionsProcess & Service

OptimizationAnalytics Robotics

Machine Learning/ AI

• Early Declination• Intelligent Targeting ✓ ✓ ✓

• Win Probability• Speed to Quote ✓ ✓ ✓ ✓

• Low Touch Renewals• Retention Probability ✓ ✓

• Risk Identification• Wearables and IOT ✓ ✓

• Rating & Pricing Engine• Data Movements ✓ ✓

• Comparative Analytics• Data Visualization ✓ ✓

• Lean Improvements• Early Data Collection ✓ ✓

• Intelligent Submission Routing ✓ ✓

• Task Automation• Intelligent Automation ✓ ✓ ✓ ✓

Increase Submission Flow

Improve Placement Rate

Improve Retention Ratio

Improve Risk Identification

Improve Consistency

Improve UW Insight

Process Improvement

Resource Assignment

Automation

Growth

Quality / Profitability

Efficiency

UNDERWRITING LEVERS

(NON-EXHAUSTIVE)


ALIGNMENT ACROSS IT, DATA SCIENCE + BUSINESS

TALENT

DESIGN THINKING

EMBED IN THE BUSINESS

SUCCESS WITH AI


Run & Operations(Consistency & Scale)

Delivery Governance

AI Lab(Innovate)

AI Factory(Industrialize)

Focus: Maintain Daily

Applications

• Infrastructure operations

• User support

• AI Application monitoring

• Help Desk

• Use Case Governance

• Value Tracking / Measurement

• Project Management

Focus: Problem of the day –

Pilot Delivery

• Source Data selection

• AI modeling

• Visualization

• Prove value – Go/No Go

Focus: Industrialization /

Ongoing questions

• Automate capabilities

• Model tuning

• Independent certification

• Test & Deploy

• Delivery Management

• Implementation Planning

• Branding & Communications

PODAdvanced

Analytics

Dev Team

Business/ Functional Teams

Sales

Innovation

Marketing

Strategy

Business Stakeholders Agile AI Organization

AI Ideas and Opportunities

Analysis and Recommendations

Focus: Business Need

• Identification of use cases

• Identification of business questions

• Prioritization of use cases

• Feedback Technology (IT)

ILLUSTRATIVE

Feedback & Implementation

Innovation & Insights

ESTABLISH THE RIGHT OP MODELNUMEROUS CLIENTS


Training Services Inference Services

AI ARCHITECTURE:DEEP LEARNING SERVICE PLATFORM - CONCEPTUAL ARCHITECTURE

Push Models,

Meta data

Benchmark,

analysis

APIModel Management

Security Application Services Data Service

ChannelsWeb Apps Mobile Apps CRM

ERPIot API

Analytics/Warehouse

BPM

Model Execution

Engine Data ProcessingBenchmark &

Reporting

Rules EngineProbabilistic

Inference EngineJobs/Scheduling

• Packaged Applications

• API driven Integration

• E.G Accenture Insight

Platform

• Data Ingestion and security

Service provided here

Training

VisualizationWrappers

Python/Web

Machine learning Optimization Layer

Core Data Structure

Distributed Compute (GPU/CPU)

Computer Network

ML Driven Application


INTELLIGENCE TEAMS

Intelligence

BuildTeam

Data Scientist

Technology Developer

Data

Engineer

UX DesignerBusinessAnalyst

BusinessDomain Expert

Solution Architect

AI CAPABILITY

BUSINESS

OWNER

AI DOMAIN

OWNER

IT/DATA

CAPABILITY

OWNER

INTELLIGENCE

RELIABILITY TEAM


Statistics

Linear and Discrete

Algebra

Functional Analysis

Optimization

Algorithmic

Complexity

Predicate Calculus

Software Engineering

Parallel and

Distributed Computing

API Management

Model Management

Large scale Data

Management

Augmented User

Experience

Domain Expertize

Information

Architecture

VisualizationMath

Analytics

Tech.UX

ML

Statistics

AI

Big Data

Traditional

Feedback

User

Domain

SAMPLE AI SKILLS

AI SKILLS


DESIGN THINKING: Intelligent insights AI-embedded claims supervisor control panel

Copyright © 2017 Accenture All Rights Reserved. Accenture Proprietary and Confidential.Copyright © 2017 Accenture All Rights Reserved. Accenture Proprietary and Confidential.

Be Collaborative

Supervisor

Walk the Floor

Dynamic content that can be easily

shared by interactions such as drag-

and-drop – and trigger sharing

based on factors such as frequency

of communication, sudden demand

or even close proximity.

USE CASE

For Internal Accenture Use Only


LEADERS WANT TO KNOW

BUSINESSAI’s possible “unintended

consequences” like Brand and PR

impact?

GOVERNMENTIs AI being deployed for “Societal

Good” OR “Job Loss”?

REGULATORSIs AI compliant with regulations

like GDPR?


MEET THE AI BOARD MEMBERS

VITAL ALICIA T

tieto

March 1, 2018 INNOVATION EXECUTIVE BOARD · T es t & Deploy Deliv er y Management Implementation...

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Transcript of March 1, 2018 INNOVATION EXECUTIVE BOARD · T es t & Deploy Deliv er y Management Implementation...