In the insurance industry, the concept of predicting and preventing risk is becoming more attainable than ever due to digital transformation and the emergence of new technologies such as artificial intelligence, Internet of Things (IoT), and big data analytics. As an example, insurers can use aerial imagery enhanced by AI to analyze properties in a wildfire-prone region and determine their precise level of wildfire vulnerability. Predictive analytics built on computer vision and machine learning tools can then analyze this imagery for proven risk drivers, allowing insurers to communicate with their insured and notify them of steps they can take to mitigate risk.
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