Our CEO, Shailesh Dhuri, had the privilege of participating in the 14th Webinar on Data Science & Analytics, organized by the Institute of Actuaries of India. Mr. Dhuri's presentation, titled "Yin & Yang of Web3 & AI to Transform Insurance Processes," offered valuable insights into the dynamic relationship between Web3 and AI technologies and their profound impact on the insurance industry.
Session Overview
Yin and Yang is a Chinese Philosophical concept that believes the two complementary forces make up all aspects and phenomena of life. Web3 is the new generation of internet service built using decentralized blockchains. Web3 and
Artificial Intelligence (AI), like Yin and Yang, are complementarily working to streamline insurance transaction processes, mitigate fraud risk, and reduce transaction costs. While AI helps establish the reality by way of claim assessments and fact checks, tokenization of established facts seals the information and makes it tamper-proof. In another tech revolution, geolocation data provide inputs about the location-wise impact of climate change and help insurance companies charge higher premiums or pull out from high-risk areas.
To gain deeper insights into Mr. Dhuri's presentation and explore the transformative potential of Web3 and AI in the insurance industry.