Using automated machine learning for AI in insurance Posted on : Mar 20 - 2020

Using dotData, an automated machine learning vendor, one of the largest insurance firms in Japan built out an AI platform that provides a personalized experience to customers.

Mitsui Sumitomo Insurance, one of the largest insurance firms in Japan, began the process of digital transformation several years ago. The company launched multiple projects, and continues to start new projects, to send it further into the digital age.

One of MSI's more ambitious undertakings is the MS1 Brain platform, an AI in insurance project to create a more personalized experience for customers.

AI in insurance

Released earlier this year, the MS1 Brain platform uses machine learning and predictive analytics, along with customer data, including contract details, accident information and lifestyle changes, to recommend products and services to customers based on their predicted needs.

"Our business model is B to B to C [business to business to consumer]. We provide our products through agencies," said Teruki Yokoyama, deputy manager of digital strategy in the department of digital business at MSI. "Until now, we have provided products to customers, both individuals and corporations mostly by leveraging experienced agents' intimate knowledge of client needs."

"By providing the needs analysis outcomes of each customer to the agency by MS1Brain, now even an inexperienced agency can make optimal proposals to customers with higher demands," he continued.

To build the platform, MSI chose dotData, a startup automated machine learning vendor based in San Mateo, Calif.

Automated machine learning

MSI first connected with dotData in 2017, when MSI's CIO visited Silicon Valley for a technical survey, Yokoyama said.

At that time, dotData was just getting started, and it hadn't released a product. Still, MSI was intrigued by its automated machine learning platform, which claims to provide full-cycle machine learning automation. DotData competitors include DataRobot, H2O.ai and Auger.ai. View More