Adopting an artificial intelligence solution

The integration of artificial intelligence within an insurance company can be achieved through different strategies, each with its own advantages and levels of control specific to each solution.

AI: Developing an in-house solution

Developing an in-house AI solution is a strategic challenge for insurance companies. Companies that adopt this approach retain control over their data and algorithms, while adapting the tools to their specific needs.

To develop AI in-house, insurers are required to take into account data quality, regulatory compliance requirements, and algorithm transparency. Rigorous governance, combined with team training, is essential to ensure the adoption and effectiveness of this solution.

Implementing an internal artificial intelligence solution requires several key steps:

• Identifying needs and use cases,
• Collecting and preparing data: structuring historical data, applicable regulations, etc.,
• Developing models,
• Integration and deployment: connecting the solution to existing systems and setting up monitoring tools to ensure model performance,
• Training staff and creating maintenance support.

Developing an AI solution in-house does not exclude collaboration with third-party technology companies. Insurers developing their solutions in-house often rely on services provided by Microsoft, Google (Google Cloud), AWS, IBM, or specialized publishers.

In other cases, these insurers use application programming interfaces (external APIs) such as Microsoft Computer Vision or Google Natural Language API to integrate ready-made code blocks into their own computer programs.

Acquiring and integrating an existing solution

Another option is to buy or partner with companies specializing in AI that offer “ready-to-use” solutions. This strategy allows insurers to quickly benefit from proven technologies, accelerate deployment, and reduce initial development costs.

The challenge then lies in the ability to seamlessly integrate these external solutions into the insurer's IT environment and adapt them to its specific processes.

Adopting AI in SaaS (Software as a Service) mode

Some insurers are opting for AI solutions in “Software as a Service” (SaaS) mode, which means they are accessible via the cloud. This approach allows access to AI models and platforms to be leased without having to manage the underlying infrastructure.

The advantages of SaaS include rapid implementation, reduced initial costs (often limited to a subscription), simplified maintenance, and automatic updates. This solution offers great flexibility and allows insurers to quickly test and adopt new AI capabilities.