Telematics & IoT-Driven Insurance with AI in Salesforce
DOI:
https://doi.org/10.63282/3050-9416.IJAIBDCMS-V5I3P108Keywords:
Telematics, IoT, AI, Salesforce, Usage-Based Insurance, UBI, Predictive Analytics, Smart Devices, CRM, InsurTech, Risk Assessment, Personalized Insurance, Real-Time DataAbstract
The insurance sector is digitalizing thanks in part to the combination of telematics, the Internet of Things (IoT) & artificial intelligence (AI). These technologies are transforming conventional underwriting & the risk assessment methods in concert with Usage-Based Insurance (UBI), therefore allowing insurers to provide individualized health & life insurance policies. By means of IoT-enabled devices connected cars, wearable health monitors, smart home sensors & linked homes insurance companies may compile actual time data on policyholders' activities, lifestyles & the surroundings. Telematics should be included into auto insurance as it methodically assesses driving habits like mileage, speed & braking patterns to provide customized policy cost. Wearable IoT devices in health and life insurance evaluate physical activity, heart rate variability & sleep habits, therefore allowing tailored risk appraisal and the premium changes. Leading this revolution with a complete platform combining telematics, IoT & AI-driven data into insurance operations is Salesforce CRM. Using salesforce's cloud features benefits insurers: Combine IoT data and actual time telematics into underwriting models, claim processing & the customer profiles. Using predictive analytics and risk assessment generated from behavioral information, instantly adjust premiums. Look over policyholder information and claims for discrepancies to help find fraud. Client engagement is increased via policy recommendations, automated AI-driven discussions & anticipatory danger alerts. By adding actual time data analytics into Salesforce, insurance businesses can generate tailored policies, increase risk accuracy & simplify processes. AI systems evaluate driving behavior in vehicle insurance to dynamically adjust premium prices, therefore encouraging improved safe driving habits. Wearable AI-generated insights help insurance companies in health and life insurance by tailoring wellness programs, motivating good living & identifying the potential health problems
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