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Artificial intelligence has been named a disruptive force in multiple areas, including finance, healthcare, and security. The insurance sector can benefit significantly from these advancements of cognitive technology too. The main areas of AI application in insurance include customer experience (58%), process optimization (43%) and product innovation (19%), from a 2018 study by Everest Global. Insurance-trained AI can create personalized rates based on the client’s actual choices and lifestyle. Factors such as the distance traveled, diseases, financial stability, and more can create dynamically priced policies.