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Bridging the Gap Between Medicine and Insurance: How to Leverage Data, Artificial Intelligence, and Neuroinformatics for Insurance and Financial Risk Management

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Abstract

As the global population ages, neurological diseases such as Alzheimer’s disease, stroke, and epilepsy will represent a top data attribute in disability and mortality predictive modeling. Clinical shortages of geriatric specialists globally have led to missed diagnoses and delays in care leading to untoward clinical and financial outcomes. Research has demonstrated a clear trickle-down impact in underwriting, latent mortality risk, and reserving for the aging population. Advances in technology and artificial intelligence have given rise to innovative analytical modeling that have bene ted both insurance and overall population health. This paper will discuss the application of a neurologically trained artificial intelligence data engine and case studies to provide understanding on how AI-enriched data insights can improve the quality, costs, and context of care.

Suggested Citation

  • Rao, Anitha & Wiendling, Mark & Ridgeway, Paul & Kennedy, Liz & Eyre, Harris A. & Pinho, Paulo, 2021. "Bridging the Gap Between Medicine and Insurance: How to Leverage Data, Artificial Intelligence, and Neuroinformatics for Insurance and Financial Risk Management," Journal of Financial Transformation, Capco Institute, vol. 54, pages 142-147.
    • Handle: RePEc:ris:jofitr:1680
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    More about this item

    Keywords

    insurance; risk management; artificial intelligence; neuroinformatics; underwriting; aging; predictive analytics;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • C55 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Large Data Sets: Modeling and Analysis
    • I13 - Health, Education, and Welfare - - Health - - - Health Insurance, Public and Private
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software

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