Expert Systems in the UK Life Insurance Industry: Current Status and Future Trends

George Wright and Gene Rowe

Intelligent Systems in Accounting, Finance and Management, 1993, vol. 2, issue 2, 113-127

Abstract: This paper focuses upon the status and prevalence of expert systems in life insurance in the UK today and reports the results of a widescale survey conducted by the authors. About 90% of the companies who responded are undertaking some form of activity in the field, with 59% expected to have operational systems in use within 3 years. However, a significant minority do not anticipate any increase in expenditure on the technology over the next few years. Other companies, by contrast, view the technology as vital for their futures. The surveys and interviews investigate levels of activity, present and future expenditure, the extent of formal planning for applications, needs, speed of organizational progress, application areas, evaluation criteria, responsibilities for development, satisfaction with shells, and perceived obstacles to progress. For the majority who have already begun development, expert systems are seen to possess a business advantage that outweighs the problems hindering this development.

Date: 1993
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https://doi.org/10.1002/j.1099-1174.1993.tb00037.x

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