Abstract
This report provides an overview of the current implementation of SIS in the insurance industry, also identifies the positive and negative aspects of using SIS in the insurance industry, including ethical issues which could arise while using SIS in this area. Two companies working in the industry of health insurance are analysed in this report: a German health insurance company (Organisation Y), and a business intelligence centre for healthcare insurers (Organisation X). Further specific ethical issues that arise when using SIS technologies in Organisation Y and Organisation X are critically evaluated. Finally, conclusions are drawn on the case study and areas for improvement are suggested.
Highlights
Thousands of claims, customer queries and large amounts of diverse data make the insurance industry a natural use case for smart information systems
Today half of the insurance companies in the world are looking at strategic alliances or joint ventures with InsurTech companies to speed up their alignment with the digital marketplace
This case study demonstrates where smart information systems are being used in the insurance sector, why they are required, what benefits and what possible harms they could bring to companies, employees and the customers
Summary
Customer queries and large amounts of diverse data make the insurance industry a natural use case for smart information systems. From customer service to claims processing, artificial intelligence is frequently cited as a disruptive force 1 in the insurance sector (Expert System, 2018).80-85% of insurance companies use smart information systems in 2018, from scanning in text from documents, to determining fraud, identifying risks or in preventative medicine.
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