Cloud-Based AI Systems for Real-Time Underwriting in Recreational and Property Insurance

Lahari Pandiri

Abstract: Using the Cloud, we develop an AI algorithm for multi-dimensional risk analysis with real-time demo risk evaluation. Our innovative approach to identifying risk surely improves the comfort of conclusion about demanding some terms and conditions for insurance, proposing for cancellations and declines, especially when positive and negative risks are presented together. By applying risk-based evaluation to museum income insurance, we demonstrate how fine is the decision obtained using original loss distribution approach to find safety loading, available thresholds for loss probabilities, reinsurance structure with the use of quota share and excess of loss contracts. Two aspects are unique in the project: being guided by decision trees, the rules behind demisking decisions are formulated as early warning artificial ideas, and, more importantly, it is the first paper where visual parts of HRM are treated as HRM influenced approval or negation of proposals for real-life, well-motivated decisions. These advantages make our algorithm attractive for the business processes of proposals for prediction and negation of decisions through demission ranking modeled by their cash flows. They allow us to extend the use of an innovative approach to HRM presentation with visual local system images on other patterns of LDA. The suggested risk-based methods make it possible to take reputational risk into consideration, classify the portions of profits and losses into the private, public, and proprietary ones, and set safety loading for any group of cash flows.

Keywords: Cloud-based AI, real-time underwriting, recreational insurance, property insurance, risk assessment, predictive analytics, underwriting automation, scalable systems, machine learning, cloud computing, insurtech, AI systems, real-time decision-making, digital underwriting, insurance technology

How to Cite?: Lahari Pandiri, "Cloud-Based AI Systems for Real-Time Underwriting in Recreational and Property Insurance", Volume 10 Issue 12, December 2021, International Journal of Science and Research (IJSR), Pages: 1626-1638, https://www.ijsr.net/getabstract.php?paperid=MS2112142733, DOI: https://dx.doi.org/10.21275/MS2112142733