A holistic Deco AI strategy for insurance risk categorization and predication

Insurance has been heavily affected from climate change in the past few years. Catastrophic events such as hail, floods, fires effect people’s lives. Technology like what Deco is building will help to speed up claims, settlements, repairs. If insurance companies can access accurate data instantly, it will help to make informed decisions about the claims quickly and help those in needs. This proposal is built upon Deco’s current digital system, which handles the basic insurance transactions, but lacks the risk assessment and prediction components.
By analyzing historic events, mapping onto claims, incorporating future economic trends and applying artificial intelligence (AI) techniques, Deco aims to establish a platform that insured entities can be precisely classified with detailed information This project focuses on data modeling using AI to help produce predictive analytics to better understand risk exposure within the sector.

Faculty Supervisor:

Irene Cheng

Student:

Partner:

Northern Appraisals

Discipline:

Computer science

Sector:

Finance and Insurance

University:

University of Alberta

Program: