Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)

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Changes in Insurance Contract Standards Under Artificial Intelligence Scenarios

Authors
Shuyi Zhang1, *, Xuyan Zhang2
1Industrial Engineering, Shenyang University, Changzhou, China
2International Department of The Affiliated High School of South, China Normal University, Guangzhou, China
*Corresponding author. Email: i_confused_lonely@qq.com
Corresponding Author
Shuyi Zhang
Available Online 31 December 2022.
DOI
10.2991/978-94-6463-036-7_134How to use a DOI?
Keywords
Artificial intelligence; Insurance pricing; Algorithms; Profits; Loss ratio
Abstract

Artificial intelligence is widely used in many ways, and people are also applying the technology to the pricing of insurance contracts. This article will apply common algorithms like the big data analysis of artificial intelligence to the predetermined incidence calculations in insurance pricing and the decrease of insurance refusal. Therefore, people can better understand the usage of artificial intelligence in the insurance pricing area, and also the increase of loss ratio through analyzing the whole pricing process. Through the research we have done, we can conclude that artificial intelligence is capable of making the predetermined incidence calculations inside insurance pricing accurate, which increases the loss ratio, as it can precisely predict the most effective and useful insurance for people. Therefore, insurance companies can enhance their cooperative image, and create more clients, in the end, providing more profits for the insurance company.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
31 December 2022
ISBN
10.2991/978-94-6463-036-7_134
ISSN
2352-5428
DOI
10.2991/978-94-6463-036-7_134How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Shuyi Zhang
AU  - Xuyan Zhang
PY  - 2022
DA  - 2022/12/31
TI  - Changes in Insurance Contract Standards Under Artificial Intelligence Scenarios
BT  - Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022)
PB  - Atlantis Press
SP  - 911
EP  - 916
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-036-7_134
DO  - 10.2991/978-94-6463-036-7_134
ID  - Zhang2022
ER  -