Understanding artificial intelligence (AI), separating the technology from the hype and developing practical applications are keys to successful implementation, Aon says.

Paul Eaton, MD of the reinsurance solutions business analytics division, says the three-point plan will help insurers get the best out of AI.

He says the business of insurance, which is heavy on intellectual property, technology and data, mirrors that of AI.

“AI is hungry for data… but also hungry for systems that can be automated and for proprietary classification problems that can be improved. That places insurance right in the appetite of artificial intelligence and its promise of transformation.”