Abstract
This project explores how Artificial Intelligence (AI) is changing the way the insurance industry operates. The main goal is to understand where and how AI can be used to solve real problems in insurance, with a strong focus on improving customer satisfaction. By studying the current trends and challenges, we developed a conceptual model that highlights the connection between AI technologies and their practical applications in the insurance field.
The model looks at several important areas, including how AI can help assess risks more accurately, understand customer needs better, process claims more efficiently, and reduce human errors when creating insurance policies. It also focuses on delivering clear, reliable data to stakeholders and offering personalized pricing by grouping customers based on their behavior and risk profiles. One major benefit is the ability of AI to detect and reduce fraud, especially in areas involving complex risk calculations and pricing.
To put these ideas into action, we designed a web-based application that demonstrates how AI can support smart, data-driven insurance services. This platform is designed to quickly respond to customer inquiries, assist in making informed decisions, and minimize the delays and mistakes often caused by manual work. By using advanced AI tools like machine learning, predictive analytics, and natural language processing, the system aims to make insurance more transparent, responsive, and customer-friendly.
Ultimately, this research shows the potential of AI to transform the insurance industry. It offers a fresh perspective on how companies can use intelligent technology to streamline their services, cut down on fraud, improve risk management, and give customers a smoother and more personalized experience. The project also sets the stage for future innovation, encouraging insurance providers to continue embracing AI as a way to stay competitive in a fast-changing digital world