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AI’s Sweet Spot with the GenAI Scorecard

HIGHLIGHT /
The Insurance Applied GenAI Use Cases Scorecard is a dynamic tool that empowers insurers to prioritize AI applications based on business value and technical feasibility. By focusing on the top-right quadrant, organizations can unlock transformative solutions with measurable impact.

Imagine having a map that not only shows where the treasure lies but also how to get there efficiently. That’s exactly what the Insurance Applied GenAI Use Cases Scorecard offers to the insurance industry.

This innovative tool acts as a guide for insurers, helping executives and tech specialists align business value with technical feasibility. The result? A clear visualization of where artificial intelligence can make the biggest impact.

Where Magic Happens: The “Sweet Spot”

Picture a graph divided into four quadrants, each representing different opportunities in AI. The top-right quadrant is the “sweet spot” where high business value meets high technical feasibility—essentially, the perfect combination for transformative change.

Here are some standout use cases from this quadrant that are already reshaping insurance:

  • Regulation and compliance reporting assistant: Automating compliance to reduce fines and ensure timely, accurate reports.

  • Marketing content creation: Tailoring campaigns to diverse audiences, boosting engagement and conversions.

  • Portfolio optimization: Enhancing risk assessment and financial management strategies.

  • Fraud detection: Leveraging machine learning to spot suspicious patterns and safeguard against fraud.

  • Simplified policy reading: Making complex documents accessible for employees and customers alike.

  • Voice-activated claims: Allowing customers to submit claims seamlessly through voice commands.

  • Personalized recommendations: Delivering bespoke solutions to meet each customer’s unique needs.

gray and white click pen on white printer paper
Photo by Nguyen Dang Hoang Nhu on Unsplash

The Bigger Picture

The scorecard isn’t just a tool—it’s a strategic advantage. It provides a roadmap to prioritize efforts, empowering insurers to focus on AI applications that deliver tangible results. By doing so, organizations can unlock innovation, drive customer satisfaction, and build stronger, more resilient operations.

AI is no longer a distant dream—it’s here, ready to transform insurance. With tools like the Insurance Applied GenAI Use Cases Scorecard, the future is not just predictable; it’s actionable.

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Cristina Álvarez
Author
Cristina Álvarez
Head of Gen AI for Insurance at NTT DATA EMEAL
Published on 09/12/2024
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Data & Intelligence
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