Application of Artificial Intelligence in Claim Management & Fire Surveying in the context of Bangladesh

Abstract

With the advancement of technology, the whole insurance business is getting more and more automated day by day. In Bangladesh, the insurance industry is getting involved as technology as well. Even though the concept of Artificial intelligence (AI) is quite new in the insurance business, it is having a massive stride in other financial corporations. Some classes of AI like Natural Language Processing (NLP), Computer Vision (CV) are getting used in different financial organizations. Claim management and surveyance are two of the most important parts of the insurance system. In this paper, we explore the possibility of using AI in these two fields of insurance in the context of Bangladesh. After discussing the initial terminologies, we discuss the steps following which we can utilize AI in claim management and fire surveying. We also discuss the network architecture of AI models in the paper. And finally, we discuss our progress so far in implementing AI in the Bangladesh insurance business.