Machine learning is going to revolutionize the insurance industry; we are already seeing the topic in almost every insurance publication and conference that is in circulation. But, what is it? And what are the benefits and risks? This blog will serve to provide an overview of machine learning and its application in insurance fraud. • Machine learning is not new technology; yes, it is cutting edge, but it has been around for years and has been applied in many other areas. It has only recently come to the forefront in the insurance space because of the incredible influx of data entering into our industry.
• At its core, ML is the science of designing and applying algorithms in order to