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The Application of Artificial Intelligence in Insurance Underwriting and Risk Management

Author(s)

Chuntong Nan

Affiliation(s)

Shanghai Lxin University of Accounting and Finance, Shanghai, China

Abstract

With the rapid iteration of artificial intelligence technology and its deep integration with financial technology, the insurance industry is undergoing a structural transformation from being labor-intensive to technology-intensive. Underwriting and risk management, as the core components of insurance business, have become the key scenarios for the application of artificial intelligence technology. This paper systematically reviews the current status of artificial intelligence technology in insurance underwriting and risk management, analyzes the application of core technologies such as machine learning, computer vision, natural language processing, Internet of Things, and large language models in optimizing underwriting processes, risk identification, precise pricing, and risk mitigation, and examines the existing problems in the current application process, including data quality, algorithm interpretability, regulatory adaptation, and talent shortage. It also looks forward to the future trends of technology integration and industry development, providing theoretical references for insurance companies to promote the deep application of artificial intelligence technology, improve underwriting efficiency and risk management levels, and contribute to the high-quality development of the insurance industry.

Keywords

Artificial Intelligence; Insurance Underwriting; Risk Management; Precise Pricing; Risk Reduction; Insurance Technology

References

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