. It uses the application of data analytics, artificial intelligence, machine learning, and even digital self-service tools that enable insurance firms to simplify complex and time-consuming manual processes while also generating true insights about large amounts of data, thus providing personalized products and services to their customers. An example of this application is the processing of claims, where AI and machine learning help do this much faster and more accurately. Similarly, data analytics may be applied to identify patterns or trends that improve risk assessment.