AI Use Case

Enhance motor insurance by predicting driving behaviour through the use of language in Facebook posts

Use social media footprint to build predictive models for assessing individuals behaviour in the real world - specifically driving behaviour and therefore insurance risk. This raises potential data protection concerns in markets like Europe but is a key part of China's national AI development roll-out.

Function

Benefits

Risk reduction - Evaluate counter-party risk (eg credit scores)

Case Studies

Admiral~Admiral automobile insurance planned to offer discounts to drivers based on data in their Facebook profiles but were prevented by Facebook,Aviva~Aviva offers up to 30% discounts on insurance premiums based on actual driving behaviour that is monitored and analysed through machine learning

Industry

Financial Services

Insurance

Data Sets

Text,Structured / Semi-structured

AI Technologies

Product Type - NLP - Text Entity Extraction,Product Type - Natural Language Processing (NLP),Machine Learning (ML),ML Task - Prediction - Annotation,ML Task - Prediction - Multi-class Classification,ML Task - Prediction - Binary Classification

Potential Vendors