AI: Reinfusing Life into Life InsuranceI. THE STORY OF INSURANCE TODAY 02 IV. MOVING WITH THE TIMES 11 II. INNOVATION—THE NEED OF THE HOUR 02 III. REINVENTING INSURANCE FOR A RESILIENT FUTURE 05 Areas of Transformation 05 1. Product Design 05 1.1 Accurate Risk Analysis 1.2 Faster Product Development 1.3 Differentiated Products 05 06 06 3. Claims Processing and Settlement 07 3.1 Intelligent Claims Creation 3.2 Accurate Fraud Detection 3.3 Streamlined Insurance Workflows 3.4 Automated Data Extraction 08 08 08 08 4. Customer Service 09 4.1 Comprehensive Customer Profiles 4.2 Microsegmentation 4.3 Omnichannel Experience 4.4 Chatbots and Virtual Assistants 09 10 10 10 2. Underwriting 06 2.1 Accelerated Underwriting 2.2 Dynamic Pricing 07 07 Decline and Disruption 02I. THE ST

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