Watsonx is the right tool to build for insurance industry.

Let me explain why:

It's all about data: Watsonx.data is the only hybrid open data lakehouse. It can integrate with data from external sources (cars, fitness trackers, or smart home) via APIs. Using this data, AI applications can deliver personalized and dynamic pricing based on client behavior and profiles.

Human in the loop: Watsonx.ai and Watsonx Orchestrate act like a sparring partner with insurance professionals. Using agentic AI, Watsonx Orchestrate can connect to various backend systems can create content, make decisions, and learn from interactions. In claims management, AI is revolutionizing speed and accuracy. Imagine submitting a vehicle damage claim and receiving an instant and detailed assessment! In underwriting, watsonx can build an AI assistant to help professionals prioritize submissions, provide initial risk assessments, and streamline decision-making processes.

Trust and confidence: Regulators look closely at how AI is used in pricing and decision-making. Challenges remain particularly around managing AI-generated risks and potential fraud. AI systems must be transparent, explainable and traceable. These metrics are monitored and measured in Watsonx.governance and its AI guardrails and factsheets.

What's next? A strategic AI Integration! Rather than just focusing on detect and repair, build AI applications that predict and prevent. Pilot high-impact/high value use case (underwriting, customer service, claims, sales) to drive profitability.

Start building with Watsonx here.