The share of respondents using machine learning for rate-setting to the full scale in their insurance businesses in 2020 was significantly elevated. However, no submitted plans for applying machine learning models in calculation of insurance reserves were reported by nearly two thirds of the polled experts. Machine learning was rather widely implemented by Russian insurers for sales and marketing purposes in that year as well.
Degree of machine learning model employment in Russian insurance industry in 2021, by business segment
Characteristic
No plans for use
Feasibility study
Getting ready for implementation
Pilot projects
Full-scale use
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KPMG. (July 29, 2021). Degree of machine learning model employment in Russian insurance industry in 2021, by business segment [Graph]. In Statista. Retrieved September 16, 2024, from https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/
KPMG. "Degree of machine learning model employment in Russian insurance industry in 2021, by business segment." Chart. July 29, 2021. Statista. Accessed September 16, 2024. https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/
KPMG. (2021). Degree of machine learning model employment in Russian insurance industry in 2021, by business segment. Statista. Statista Inc.. Accessed: September 16, 2024. https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/
KPMG. "Degree of Machine Learning Model Employment in Russian Insurance Industry in 2021, by Business Segment." Statista, Statista Inc., 29 Jul 2021, https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/
KPMG, Degree of machine learning model employment in Russian insurance industry in 2021, by business segment Statista, https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/ (last visited September 16, 2024)
Degree of machine learning model employment in Russian insurance industry in 2021, by business segment [Graph], KPMG, July 29, 2021. [Online]. Available: https://www.statista.com/statistics/1091414/russia-machine-learning-usage-in-insurance-market/
