Artificial Intelligence and Actuarial Science Applications and Case Studies from Finance and Insurance

Section A Introduction

1. Evolutions of Actuarial Systems in the Insurance Industry & challenges in the existing system

Manawati Panwar and Danilo Pelusi

Section B Application of AI

2. Experts Opinion on Generative AI: Adoption and Challenges in Actuarial Science

Madhwaraj K G, Jayashri Shetty, Gokul Yenduri, Praveen Kumar Reddy Maddikunta, Ramalingam Murugan & Thippa Reddy Gadekallu

3. AI: A revolutionary tool for actuarial work in insurance

Gurpreet Kaur,Puneet Singh and Sachin Rawat

4. Explainability AI: A Key Driver for Enhanced Quality of Service in Actuarial Practices

R S M Lakshmi Patibandla, Gokul Yenduri, Praveen Kumar Reddy Maddikunta, Ramalingam Murugan &Thippa Reddy Gadekallu

5. Explainability of AI in improving the Quality of Service in the Actuarial Industry

Anita Tanwar,Dr. Rashmi Aggarwal and Arvinder Kaur

6. AI Transformation of the Insurance Industry: A Systematic Review of Progress and Possibilities

Pravin Chavan, Dhanashri Sanadkumar Havale, Subrata Chowdhury, Hrishikesh Gajananrao Kokate and Wing-Keung Wong  

7. Examining the factors influencing AI adoption in the insurance Industry specifically in actuarial process.

Arwin Sandesh D’Souza, Daksha Malagatti, Ravi Prakash B and RamaMoorthy H,

8. Role of Artificial Intelligence (AI) in Insurance Industry: Scope, Benefits, and Adoption Roadmap 

Kumar Shalender and Rajesh Kumar Yadav

9. AI’s role in improving the quality of Insurance services

Gurpreet Kaur, Puneet Singh and Anshull Bhalla

10. Fuzzy Artificial Intelligence as A Technique to Find Relative Desirability for Automated Insurance Premium Assignment

Firos A and Seema Khanum

11. Opportunities and Challenges of Combining Artificial Intelligence Power with the Richness of Healthcare Claims Data

Vijai and Sridevi

Section C Technological Advancement

12. Implementing Machine Learning in Actuarial Practice: Real World Applications and Insight

Mamta and Gurpreet Singh

13. Telematics System in Usage Based Motor Insurance

Vinita Choudhary, Neha Kamboj and Sonal Trivedi

14. Secured and Scalable: Integrating Blockchain Solutions for Health Insurance Claim Using Client Support Chatbot Automation

Vijayakumar T,Revathi A, Janarthanan S and Vanitha A 

Section D Conclusion

15. Law and AI-Powered Actuarial Revolution: Navigating the Future of Insurance Risk Assessment

Neha Parveen

16. Charting the Future: Artificial Intelligence’s Role in Revolutionizing Actuarial Work in Insurance Sector

Mufaro Dzingirai andRukudzo Dzapasi

Biography

Dr. Sonal Trivedi is an Assistant Professor, VIT Bhopal University, India. She has more than 12 years teaching experience. She has published 2 Books in National publication and two edited books with international publishers in process of publishing. She has 27 documents in Scopus indexed journal. She has 6 patents granted. She has 22 research papers in UGC approved journals and 15 papers presented in International and National conferences. She has acted as conference chair in five international conferences. She is reviewer of 4 reputed journals. She has done her Ph.D. in Management (Finance) ‘A study on risk management tools and techniques in life insurance industry in India’ from University of Kota (Rajasthan) in 2017. She has also worked as Teaching Assistant in S.V. National Institute of Technology (NIT), Surat (Institute of National Importance under Ministry of Human Resource Development (MHRD), Government of India). Her areas of interest are Blockchain, finance, Banking and insurance.

Dr. Nallakaruppan M.K is working as the Assistant Professor in the School of Information Technology and Engineering, Vellore Institute of Technology, Vellore, Tamilnadu, India. He completed his bachelor degree in B.E. Electronics and Communication Engineering in J.J.College of Engineering and Technology. He completed his master’s degree in M.E. Software Engineering in Anna university. He completed his PhD in “Decision Support Systems for IoT based Infrastructures” in VIT university, Vellore. His area of expertise are IoT and smart networks, Machine learning, Soft computing, Decision Science and Deep learning. He has 32 International publications in various International Journals under his area of interest. This includes 20 research papers ,9 conferences and 3 book chapters, all with various reputed publishers.

Balamurugan Balusamy is currently working as an Associate Dean Student in Shiv Nadar University, Delhi-NCR. Prior to this assignment he was Professor, School of Computing Sciences & Engineering and Director International Relations at Galgotias University, Greater Noida, India. His contributions focus on Engineering Education, Block chain and Data Sciences. His Academic degrees and twelve years of experience working as a faculty in a global University like VIT University, Vellore has made him more receptive and prominent in his domain. He does have 200 plus high impact factor papers in multiple reputed journals.  He has done more than 80 Edited and authored books and collaborated with eminent professors across the world from top QS ranked university. Prof. Balamurugan Balusamy has served up to the position of Associate Professor in his stint of 12 years of experience with VIT University, Vellore. He had completed his Bachelors, Masters and PhD Degrees from Top premier institutions from India. His passion is teaching and adapts different design thinking principles while delivering his lectures. He has published 80+ books on various technologies and visited 15 plus countries for his technical course. He has several top-notch conferences in his resume and has published over 200 of quality journal, conference and book chapters combined. He serves in the advisory committee for several start-ups and forums and does consultancy work for industry on Industrial IOT. He has given over 195 talks in various events and symposium.

Nithya Rekha Sivakumar received a grant from UGC and completed Ph.D., as a Full-Time Research Scholar in Periyar University awarded with “UGC BSR Research Fellowship in Science for Meritorious Students” by University Grants Commission, New Delhi, Govt. of India from 2010 to 2013. She received Travel Grant from Department of Science and Technology (DST), Govt. of India to go to United Stated of America for her Ph.D. research. She received the “BEST DISTINGUISHED RESEARCHER AWARD” for the year 2015-2016 from the College of Computer, Qassim Private Colleges, Buraydah, Kingdom of Saudi Arabia. She has received Research grant for Research Identity Fast-track Funding Program, from Deputyship for Research & Innovation, Ministry of Education and Researchers Supporting Project Award from Princess Nourah bint Adbulrahman University in Saudi Arabia four times. She is a Panel of External Examiner for Ph.D. for more than 25 candidates who has awarded Ph.D. She is the author of over 50 peer-reviewed articles. She has also 3 Patents. She is also the reviewer in reputed journals. She is supervising several graduates (B.S. and M.S) students. Her research interests include the Mobile Computing, Artificial Intelligence, Internet of Things, Deep Learning, Machine Learning, Wireless networks, Network/Cyber security, Blockchain, VANET, Cognitive Radio Networks and Cloud computing. She is currently an Associate Professor in the Department of Computer Sciences, College of Computer and Information Sciences, Princess Nourah Bint Abdulrahman University, Riyadh, Saudi Arabia. She has 17 years of teaching in the field of Computer Sciences and 15 years in research.