target audience: TECH BUYER Publication date: Jul 2024 - Document type: Tech Buyer Presentation - Doc Document number: # US49909923
Generative AI Use Case Taxonomy, 2024: The Insurance Industry
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Abstract
This IDC Tech Buyer Presentation provides generative artificial intelligence (GenAI) use cases for the insurance industry. IDC believes that the transition to AI everywhere will see the emergence of a range of new GenAI-driven use cases at the individual level (productivity-based), at a business function level, and in an industry-specific context. IDC is publishing industry generative AI use case taxonomies for 18 industries, including insurance. This IDC Tech Buyer Presentation segments GenAI use cases into 5 areas: digital risk coverage and investment products, bionic operations, digital risk services, risk intelligence, and digital ICT and operational resilience. For each associated use case, a description is provided, an example is given, the data modalities are shown, and the business impact is explored. Finally, metrics for success and the relative risk and complexity of implementation are assessed, as well as a horizon for the widespread availability of each use case.