AI's Impact on Insurance and Healthcare TransformationArtivatic.ai's Layak Singh on Navigating the Intersection of AI and Human Touch
The insurance and healthcare sectors are rapidly evolving, driven by urbanization, digital growth, and changing consumer needs. AI is at the forefront of this transformation, particularly in enabling more transparent and user-friendly insurance and healthcare services.
AI is instrumental in optimizing risk assessment, preventing fraud and customizing policies in insurtech, whereas in healthtech, AI-driven tools are enhancing diagnostics, treatment planning and personalized care. These advancements are streamlining healthcare services and introducing new innovations.
"Insurance and healthcare are both emotion-focused industries. The challenge lies in seamlessly integrating AI and the human touch, ensuring the system remains efficient and incorporates new-age innovations while preserving the essential human element at its core," said Layak Singh, CEO, Artivatic.ai.
In an interview with ISMG, Singh discussed:
- Artivatic.ai's automated decision-making platforms;
- The role of AI in risk assessment in insurance;
- How Artivatic.ai addresses ethical and privacy concerns in the development and deployment of AI solutions.
Singh is extensively working on leveraging AI to create solutions that facilitate buying, selling and managing insurance as well as improve the health outcomes of the customers. He has more than 11 years of entrepreneurial experience in building and scaling AI-powered solutions for insurance and healthcare.